Dubai-based FAM Holding Company has invested USD217 million to develop a resort in the Maldives.
Al Mahra Maldives Resort is the first residential developmental project from the company and its first expansion outside of the United Arab Emirates (UAE). The project was launched during the ongoing Arabian Travel Market (ATM) Fair 2023 in Dubai.
The resort will be developed on an area of 100,000sqm of land. There will be 150 hotel units, 100 water villas, 40 beach villas, three restaurants, a spa, and a gym. The development of the resort will start within the next three months and is expected to be completed within two years.
FAM Holding Company is one of the fastest-growing real estate companies in Dubai. The company is aiming to launch projects around the world in the future.