Dubai-based firm plans to develop $218mln luxury resort in Maldives

The project will also comprise 40 beach villas, including 10 which will be earmarked for VIPs, as well as 3 restaurants

Dubai-based FAM Holding has announced plans to develop its luxurious hotel residential project in the Maldives at a total investment of about AED800 million ($218 million). With this project, the group is making its foray outside UAE.

Spread over a 100,000 sq m area, The ‘Al Mahra Maldives’ resort will feature 150 hotel units and chalets, including 100 floating villas with a private swimming pool in each unit.

The project will also comprise 40 beach villas, including 10 which will be earmarked for VIPs, as well as 3 restaurants, one spa, and gym. Moreover, the resort will feature all aquatics”, Mousa advised.

Announcing its first overseas project, Chairman Dr Faisal Ali Mousa said: “Through Al Mahra Maldives touristic resort project, FAM aims to expand in the real estate investment outside the UAE for the first time, and strives to tap into the Maldives.”

“This archipelago currently witnesses a remarkable growth, as it became the bucket list destination for many travel and tourism lovers all over the world, to bask in its pristine beaches, virgin nature, serene lifestyle, and smiling faces of the locals, a matter which makes it an ideal oasis for tranquility and relaxation,” he stated.

According to him, Maldives offers unprecedented investment facilitations and incentives for easing the business doing, a matter that stimulates the flow of touristic investments on continuous bases.

The rise in touristic flow to the Maldives, he stated, encourages the launching of new touristic projects to exploit the huge demand.