A large-scale real estate push is taking shape in the Maldives as Abu Dhabi-based Eagle Hills targets an island about 20 minutes from Male for a new mixed-use development. The planned project spans 5.2 million square meters and points to another potential cross-border Gulf investment in the Indian Ocean tourism and housing market.
Highlights
- Eagle Hills plans a $12 billion mixed-use development spanning 5.2 million square meters on an island near Male, Maldives.
- The project will deliver thousands of homes, multiple hotels, resorts, retail outlets, schools, medical clinics, a water park, and a marina.
- Mohammed Alabbar indicated Emaar Properties PJSC may join the scheme, signaling potential wider Gulf developer participation and regional investment momentum.
Project scope and development plans
As reported by Bloomberg News, Eagle Hills is planning a $12 billion development in the Maldives that is set to cover a 5.2 million square meter island near the capital, Male.The project is set to include thousands of homes as well as hotels, resorts, shops, schools, clinics, a water park, a marina and other amenities. Mohammed Alabbar, who heads Eagle Hills, outlined the plan in an interview and said the scheme is designed as a broad mixed-use development.
Regional investment implications
Alabbar also said Dubai-based Emaar Properties PJSC could participate in the project. He heads that company as well, indicating the Maldives plan could draw support from major Gulf property players beyond Eagle Hills alone.If it proceeds, the development would add significant residential, hospitality and leisure capacity close to Male. The scale of the plan underscores continued interest from regional developers in destination-led projects that combine tourism infrastructure with urban services.
Our earlier coverage of the UK housing market highlighted a tentative rebound in asking prices after a subdued summer, even as mortgage costs continued to rise and buyer enquiries stayed weaker than a year ago. The update also pointed to elevated housing supply and borrowing costs as key constraints, suggesting that any renewed seller confidence is still fragile amid challenging market conditions.
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