Minister of Tourism Moosa Zameer has affirmed that Emboodhoo Lagoon project is proceeding according to the schedule and that the first phase would be completed in August 2018.
The Emboodhoo Lagoon Project is conducted as part of the Integrated Leisure and Recreation Destination Resort Concept. The USD800 million project, contracted to Thailand-based Singha Estate Company, will see the development of 9 islands. The first phase of the Emboodhoo Lagoon Project, estimated to cost USD331.5 million will see development of 3 islands.
In an exclusive interview with PSM news after monitoring the current progress of the location, Tourism Minister Moosa Zameer expressed that the first phase of the Emboodhoo Lagoon project will start its services during August next year. Minister Zameer stated that 70% of the construction tools and machinery needed for the project are imported to Maldives.
In regard to the opportunities available for the Maldives, Minister Zameer highlighted that even though the project is a foreign investment, various opportunities are available for private sector investors in Maldives. He noted that Maldivians investing in Emboodhoo Lagoon project and utilising the project for their benefit is a happiness. The project will directly create five thousand jobs and that he believes that many more will be generated indirectly, added the Minister.
Continuing on, Tourism Minster said that the overall economy of the country will be changed with the completion of the project adding that the transformational projects of President Yameen are beneficial for the country and is evident. The project will be well monitored and completed according to the schedule, assured the Minister concluding his interview.
The first phase of Emboodhoo project would include international franchise restaurant and retail outlets, entertainment outlets, recreational facilities, and leisure and lifestyle boutiques. The project will also see the establishment of the first ever township development in the country, which will boast an international standard yacht marina. A cultural centre will also be developed under the project.
The first phase of the project along with township will be completed by mid-2018 while the second phase is set to be completed within the next five years. The project will help to further promote the country as a world class family destination internationally. It is expected to boost arrivals from Europe, Asia and Middle East.