Dubai’s Eagle Hills invests $12bn in Maldives waterfront project

By the Editorial Team · Tuesday, September 22, 2026

Dubai-based developer Eagle Hills will invest around $12 billion in the Maldives Waterfront and Marina project, a large-scale waterfront development featuring hotels, luxury apartments, and retail spaces in the Ras Malé area. The initiative aims to boost tourism and housing by including 5,000 homes for local families and is expected to begin construction in early 2027, marking one of the largest foreign investments in the Maldives.

Dubai-based real estate developer Eagle Hills is set to invest approximately $12 billion in a large-scale waterfront project in the Maldives, marking its first major venture in the Indian Ocean island nation. The development, known as the Maldives Waterfront and Marina, will be situated in the Ras Malé area and is planned to include international hotels, luxury apartments, retail spaces, and leisure facilities.

Mohamed Alabbar, founder and chairman of Eagle Hills as well as the property company Emaar—famous for developing Dubai’s Burj Khalifa—announced that construction on the 1,359-acre site could begin as early as the first quarter of 2027. Eagle Hills currently operates in over 18 countries and maintains a portfolio of 45 hospitality properties.

Under the terms of the agreement, the Maldivian government will receive 10 percent of sales revenue generated from commercial development within the project, alongside a 4 percent fee on every property transaction, according to Abdulla Muththalib, the Maldives housing minister. As part of the initiative, the project will also include the construction of 5,000 homes specifically allocated for Maldivian families.

Officials highlighted that the development aims to boost both tourism and residential infrastructure within the Maldives, supporting economic growth and expanding housing availability. The project is expected to significantly transform the Ras Malé region, combining upscale amenities with community-focused residential areas.

While Eagle Hills emphasized its commitment to delivering a high-profile, sustainable development, local authorities focused on ensuring that the project generates tangible benefits for Maldivian citizens. The planned homes for local families reflect efforts to balance commercial investment with social priorities.

As the Maldives continues to attract global investors seeking to capitalize on its strategic location and natural beauty, this ambitious project represents one of the largest foreign investments in the country’s recent history. Stakeholders are closely monitoring its progress, with construction anticipated to start within the next several months pending final approvals and logistical arrangements.

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