Maldives Waterfront & Marina: Why We Should Welcome This Investment

The proposed US$20 billion Maldives Waterfront and Marina development is an investment that could reshape our economy. I believe we should welcome it with open arms.

For the Maldives, the opportunity goes well beyond hotels, residences and a marina. It brings international capital and development experience to a country with a reputation few destinations can match. We have spent decades making the Maldives a place the world wants to visit. Now we have an opportunity to make it a place where more people want to invest.

That is a sensible next step for our economy. Our name is known around the world, and this project could help turn that recognition into more businesses, better careers and new sources of income.

Because the development is planned in phases, it could keep investment and economic activity flowing for years. Construction would create demand for contractors, materials, transport and professional services. Once the destination opens, its hotels, restaurants, shops, residences and marina would need a wide range of services every day.

For Maldivian businesses, this could mean new customers and contracts. Food suppliers, transport operators, maintenance companies and many others could find room to grow. Entrepreneurs could start businesses to meet needs that do not yet exist.

This is where a major investment can make a lasting difference. Its benefits spread through the businesses and people who help it operate.

The partnership with Eagle Hills is another reason to welcome the project. An experienced international developer brings knowledge of how to plan, build and manage large destinations. That experience could help the Maldives reach new markets and attract investors who may not have considered the country before.

Successful delivery could also encourage further investment. When investors see a major project taking shape and performing well, they have a stronger reason to consider opportunities here.

The waterfront and marina concept makes sense for the Maldives. We already have a successful island resort industry. Waterfront living, boating, dining, shopping and entertainment could broaden that appeal and give visitors more choice.

Some travellers may come for this new experience. Others may add it to a resort holiday. Either way, it could give people more reasons to visit, stay longer and return. The projected one million additional international travellers a year shows how much the project could add to our tourism economy.

The marina is especially promising. Visiting boats need maintenance, supplies and support services. That creates opportunities for people and businesses with marine skills. In a country so closely connected to the sea, this is an area of growth worth pursuing.

The residential side of the project could also open a new market. A long-term leasehold framework could appeal to buyers who want a lasting connection with the Maldives. Their investment could support property management, maintenance, shops and other services throughout the year.

Together, these activities could give the country more ways to earn while building on what we already do well.

Once fully operational, the development is projected to generate more than US$1 billion in annual revenue. The wider activity it creates could bring in foreign currency, increase tax receipts and support local businesses.

According to the government, the investment is intended to proceed without government borrowing or tax giveaways. If delivered on that basis, it would allow the country to attract substantial private capital while keeping public borrowing capacity available for other national needs.

The planned 5,000 homes for Maldivians add another important benefit. Alongside the more than 40,000 direct and indirect jobs projected over the project’s lifetime, they give the development a clear connection to people’s everyday needs. Schools, healthcare and public spaces would help make it a community where people can live and work.

The environmental plans are also encouraging. The development is intended to use already reclaimed land, with no further dredging by Eagle Hills. Plans for independent marine monitoring and climate-resilient infrastructure recognise the importance of protecting the surroundings that make the Maldives special.

These are substantial ambitions, and the figures remain projections. But there is a strong case for what the project could achieve. Visitors would bring spending, businesses would gain customers, workers would gain opportunities, and the country would gain new sources of income.

That is why I support this investment. The Maldives needs opportunities that bring capital into the country and create lasting value for its people. This project has the potential to do both.

We have built a remarkable reputation in tourism. The Maldives Waterfront and Marina gives us a chance to build on it—and to turn more of that success into prosperity at home.