Eagle Hills Signs $12 Billion Agreement for Maldives Waterfront and Marina

Abu Dhabi-based developer Eagle Hills has signed a commercial terms agreement with the Maldives government for the development of Maldives Waterfront and Marina, a major integrated island destination planned for the Ras Malé area.

The development is expected to represent an investment of approximately $12 billion across multiple phases, positioning it among the Maldives’ largest planned real estate and infrastructure developments.

Maldives Waterfront and Marina will combine hotels, premium and branded residences, a marina, retail and dining destinations, educational facilities, and healthcare services within a single master-planned waterfront community.

Residential properties are expected to be offered under a leasehold structure of up to 99 years, governed by Maldivian law. Under the proposed framework, a new lease term of up to 99 years would commence upon each transfer of ownership, including sales and inheritance.

The project is planned on reclaimed land, with Eagle Hills stating that no additional dredging will be undertaken. Independent marine monitoring is also expected to accompany construction as part of the development’s environmental approach.

Maldives Infrastructure Minister Abdulla Muththalib described the development as the country’s largest investment programme and highlighted its potential to attract substantial foreign investment while generating direct government revenue from property transactions.

Eagle Hills Chairman Mohamed Alabbar said the development aims to build responsibly on the Maldives’ international appeal while creating a world-class destination.

The agreement currently establishes the principal commercial terms, with further details to be finalized as the development progresses. Construction timelines and individual project phases have not yet been announced.