Maldives Insight Staff

President Dr. Mohamed Muizzu today officiated the groundbreaking ceremony for ‘Project Ayla,’ the Maldives’ first sustainable township project. Developed under the Special Economic Zones (SEZ) legal framework, the project is a joint venture by Crystal Holdings Private Limited and Bluerock Group, representing an investment exceeding USD 790 million.

The township is situated across a designated zone in N. Atoll, encompassing Dhekunuhandhi, Dhigufaru, and Kuramaadhoo. The project aims to diversify the nation’s traditional tourism model, integrating luxury tourism and residential developments with world-class healthcare services, tourism education, and modern agricultural components.

Sustainability Initiatives

A core feature of the township is its commitment to sustainability, with a minimum of 60 per cent of its energy requirements to be generated from renewable sources. Advanced waste management and water systems will also be implemented to minimise the environmental footprint of the development.

Economic Contributions and Development Timeline

The Ministry of Economic Development stated that ‘Project Ayla’ is expected to generate numerous employment opportunities and foster the development of skilled Maldivian professionals. Parts of the township are projected to become operational and open to tourists by 2028.