Dubai firm forays into Maldives market

Inayat-ur-Rahman, Business Editor

FAM Holding Group, which is based in Dubai, has announced the launching of “Al Mahra Maldives” Resort, its luxurious hotel residential project in the Maldives. The project, which will receive investments of about Dhs800 million, is deemed one of the latest real estate development projects to be launched by the Group, and its first real estate expansion outside the UAE.

This launching came on the margin of the 30th version of Arabian Travel Market 2023, which opens its door today in Dubai.

Commenting on the new project, Dr Faisal Ali Mousa, the Chairman of FAM Holding Group, said: “Through Al Mahra Maldives touristic resort project, FAM Holding Group aims to expand in the real estate investment outside the UAE for the first time, and strives to tap into the Maldives, particularly that this archipelago currently witnesses a remarkable growth, as it became the bucket list destination for many travel & tourism lovers all over the world, to bask in its pristine beaches, virgin nature, serene lifestyle, and smiling faces of the locals, a matter which makes it an ideal oasis for tranquility & relaxation”.

Mousa noted that Al Mahra Maldives resort will be established on an island with an area of 100, 000 square meters, and will comprise 150 hotel units and chalets, including 100 floating villas. He added that each unit in the resort will include a private swimming pool. “The project will also comprise 40 beach villas, including 10 which will be earmarked for VIPs, as well as 3 restaurants, one spa, and gym. Moreover, the resort will feature all aquatics”, Mousa advised.  

“The Maldives was selected, as it is a global touristic destination that the people of Arabian Gulf, Asians and Europeans visit. Moreover, the majority of famous trademarks and big touristic companies have a presence there, not to mention the fact that the UAE is one of the biggest Middle Eastern investors in the Maldives, and its investments there cover many sectors, particularly tourism & transportation”, Mousa explained.