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Abu Dhabi's Eagle Hills signs $20bn Maldives waterfront and marina deal

thenationalnews.com · 3h · first reportShare

Abu Dhabi-based developer Eagle Hills has signed an agreement with the Maldives government to develop a $20 billion waterfront and marina project in one of the largest proposed foreign investment developments in the Indian Ocean nation. The Maldives Waterfront and Marina will be developed in Ras Male, an urban area being created at Fushi Dhiggaru Lagoon near the capital Male, about 17 minutes away by speedboat. The agreement was signed in Dubai on Monday, with Mohamed Alabbar , founder and chairman of Eagle Hills, and senior representatives of the Maldives government attending the ceremony. The integrated development will include international hotels and resorts, premium and branded residences, a world-class marina, waterfront promenades, restaurants, shops, leisure and wellness centres. Overall investment is envisioned at about $20 billion across various phases, according to Eagle Hills. Preliminary estimates indicate the project could attract more than $30 billion in gross foreign in