Eagle Hills Chairman Mohamed Alabbar has said the company will invest in the Maldives in a way that ensures Maldivian citizens and businesses have access to all opportunities arising from its investments.
Alabbar made the remarks during a meeting with Maldivian business leaders.
The meeting, held at dusitD2 Feydhoo, was attended by government ministers and senior officials, as well as representatives of government-owned companies and prominent business leaders from various sectors.
The meeting was held to seek the views and advice of the business community and address their concerns regarding the Maldives Water Front and Marina project, currently being developed in the capital.
Speaking at the meeting, Alabbar, the Chairman of Eagle Hills and the main developer of the Rasmale' Marina project, outlined his vision for investing in the Maldives.
Alabbar, who has investments and successful projects in 20 countries worldwide, said projects worth USD 450 billion have been undertaken under his leadership to date.
He said investing in the Maldives was not something he was compelled to do, but rather reflected his vision of undertaking projects that would benefit the people.
Alabbar said his vision was that every investment should not be structured solely to generate financial returns for foreign investors. Instead, opportunities would be created for Maldivians to participate in the projects and benefit from them.
He said investment opportunities would also be made available to Maldivian citizens. Alabbar said these would not be the kind of opportunities that are generally offered, but that the company intends to introduce such opportunities in the Maldives for the first time.
He said the company’s objective was to begin work as soon as possible and that its operations in the Maldives would be conducted in accordance with Maldivian laws and regulations. He added that the company would work closely with the government to ensure the success of the project.
Alabbar also said that money would circulate through Maldivian banks as the project progresses. He said no funds would be kept overseas to facilitate the project, adding that the company wants to develop Rasmalé Marina while preserving the characteristics and identity of the Maldives.