The Maldives Waterfront and Marina development in Rasmalé will offer Maldivians not only employment opportunities but also the prospect of operating storefronts and establishing commercial enterprises, Mohamed Alabbar, the chairman of Eagle Hills, an Abu Dhabi-based private real estate investment and development company, stated.
In an interview with PSM News, Alabbar outlined a structure aimed at broad domestic economic participation. The scheme will be executed to directly benefit the local population, representatives of Eagle Hills maintained. To ensure capital flows into domestic businesses, construction materials must be procured directly from Maldivian vendors whenever locally available, Alabbar asserted.
The completed complex is expected to generate sustained labour demand. "As you build this thing, there are, who will need 15,000 people to work there," Alabbar explained, noting subsequent requirements for commerce and maintenance. "Imagine a city that needs to buy everything: it will buy its fish, to buy its fruits... priority should be given to the business community."
Commercial opportunities for domestic enterprises are anticipated to expand within the extensive commercial premises, an operational framework Eagle Hills has implemented elsewhere. "I would say minimum 1,500," Alabbar observed regarding the number of new shops. "There'll be 1,500 businessmen, and we will give the priority of these shops for the local people."
The development will occupy 500 hectares of reclaimed land at Rasmalé. Total investment is projected to reach USD 20 billion, expected to boost annual tourist arrivals to the Maldives by one million visitors.