Chief Investment Officer of Singha Estate Company Limited Thiti Thongbenjamas has stated that the vision for the mega developmental project of Emboodhoo Lagoon is almost complete and states that the Maldivian tourism industry is all set to escapade into uncharted areas of expertise.
Speaking on Talk Maldives TV programme, aired on PSM News, Chief Investment Officer of Singha Estate stated that the Crossroads project is the largest venture handled by a Thai-based company outside of Thailand. In this regard, the Chief Investment Officer of the developer of the mega project cited that the Maldivian tourism industry is all set to escapade into uncharted areas of expertise such as entertainment, retail investment and food and beverages.
Thiti Thongbenjamas added that the vision for the mega developmental project of Emboodhoo Lagoon is almost complete. Shedding light on the progress of the project, Thiti Thongbenjamas stated that the first phase of the Emboodhoo lagoon project is all set to be launched by the end of the last quarter of the year. In this regard, Thongbenjamas said that 2 resorts would be launched with the completion of the first phase. He highlighted that famous brands such as Hard Rock and Café del Mar are set to venture into the Maldivian tourism market from opportunities provided by the project.
Emboodhoo Lagoon Project is developed in two phases, with three resort islands developed in the first phase at a cost of about USD 331.5 million. The Emboodhoo Lagoon integrated leisure and recreational destination mega-project is unprecedented in the Maldives. The mega developmental project of integrated islands developed in Emboodhoo Lagoon, otherwise known as Crossroads, has attracted it as a leisure and recreational destination. The project which is touted to transform Maldives to an ideal to a global market as a family vacation destination is in line with the Maldivian Government's Foreign Direct Investment Policy to advocate free enterprise with pro-market programmes.