UAE developer Eagle Hills unveils $12 billion Maldives project
UAE property developer Eagle Hills is planning to invest around $12 billion in a major waterfront development in the Maldives, marking the company’s official entry into the Indian Ocean nation.
The project, named Maldives Waterfront and Marina, will be developed in the Ras Malé area and is planned as a large mixed-use destination combining international hotels, premium residences, retail and leisure facilities.
A 550-hectare development in Ras Malé
The development will cover approximately 550 hectares, or 1,359 acres, making it a significant addition to the Maldives’ property and tourism landscape.
Eagle Hills founder and chairman Mohamed Alabbar said construction could begin as early as the first quarter of 2027.
Alabbar, who is also the founder and chairman of Dubai-based Emaar, said Eagle Hills continues to look for large-scale international development opportunities.
Hotels, residences, retail and leisure
Maldives Waterfront and Marina is being planned as more than a conventional resort.
The project will include international hotel brands, premium residential properties, shopping and leisure facilities, creating a new mixed-use waterfront district rather than a single hospitality development.
The scale of the investment also makes the project one of Eagle Hills’ most ambitious international ventures announced to date.
5,000 homes for Maldivian families
The development will also include a major residential component for local communities.
Maldives Minister of Infrastructure, Housing and Urban Development Abdulla Muththalib said 5,000 homes will be built for Maldivian families as part of the project.
The government will also receive 10 per cent of sales revenue generated from the commercial development, as well as a 4 per cent fee on every property transaction associated with the project.
Alabbar wants local investors involved
Alabbar said he also wants Maldivian companies and individuals to have opportunities to participate financially in the development.
He explained that the investment structure should leave room for local participation rather than being limited entirely to international capital.
Emaar could potentially become involved in the project as well, although Alabbar said no final structure has yet been detailed.
The approach could give Maldivian investors a direct stake in one of the country’s largest planned developments while connecting local businesses with Eagle Hills’ international development network.
Another major international project for a UAE developer
Eagle Hills has expanded well beyond the UAE in recent years.
The company now has a presence across more than 18 countries and a hospitality portfolio comprising 45 hotels.
Its entry into the Maldives adds one of the world’s best-known luxury tourism destinations to that international footprint.
For the UAE property sector, the project is also another example of developers founded in the Emirates taking large-scale real estate expertise into international markets.
UAE investment reaches the Maldives on a new scale
The $12 billion commitment places Eagle Hills at the centre of a development that combines tourism, residential property and infrastructure in one of the Indian Ocean’s most recognised destinations.
With construction potentially beginning in early 2027, Maldives Waterfront and Marina could significantly expand Ras Malé while bringing new hotels, homes and commercial facilities to the area.
For Mohamed Alabbar and Eagle Hills, it also represents a major new international chapter — taking a UAE-founded development company into the Maldives with one of its largest projects yet.
