Abu Dhabi's Eagle Hills to Build USD 12 Billion Maldives Escape

Ras Malé is getting a very different kind of waterfront. Abu Dhabi-based Eagle Hills has signed an agreement with the Maldivian government for a USD 12 billion district of hotels, residences, restaurants and marina space on reclaimed land.

The Maldives Waterfront and Marina project is planned in phases, with international hotels, branded residences and a marina forming the centrepiece. Around them, the masterplan adds retail, dining, entertainment and wellness spaces, alongside schools, healthcare facilities and public areas intended to make the district function as more than a resort enclave.

For buyers, properties are planned under leasehold terms of up to 99 years. Those leases can effectively restart after a sale or inheritance, allowing homes to remain in families across generations.

The scale is unusual even by Maldivian development standards. The government has called it the largest investment programme in the country’s history, with the project expected to bring billions of dollars into the local banking system while adding new housing, jobs and government revenue from property sales. It is planned without government borrowing or tax giveaways.

The development will use land that has already been reclaimed, meaning Eagle Hills will not carry out further dredging for the project. Independent marine monitoring is planned during construction, while the wider design includes resilience and sustainability measures.

If completed as planned, Ras Malé would become something quite distinct from the Maldives’ familiar one-island-one-resort model: a large, permanent waterfront district built around marinas, homes, hotels and everyday city life.