Abu Dhabi-registered company Atoll Estates Holding has launched a multi-million dollar project to develop multi-island luxury resorts powered by renewable energy.
A secluded lagoon in South Malé Atoll about 40 minutes by boat from the Velana International International has been leased for ‘Projekt Delfin.’ The 5km Tholhimaraa Huraa lagoon has a few small islands and sandbanks but new land is to be reclaimed to build the resorts, each of which would be connected by overwater walkways with a minimum distance of 500m from each other.
“With the use of renewable energy, efficient buildings, and a circular economy for waste, the development will be net-carbon neutral without compromising guest comfort, enhancing their overall experience,” said Dmitry Bourtov and Amit Majumder, co-founders of Atoll Estates.
“Sustainability is at the heart of the project, and every aspect of an ESG investment portfolio is considered. It aims to deliver above the current requisites.”
Atoll Estates has set up a 100% subsidiary company in the Maldives called Prime Atoll Maldives for the development and operation of the resorts. The developer assured efforts to mitigate the environmental impact of land reclamation with deep sea sand, including an “extensive coral rejuvenation programme” and adding nearly 50 hectares of mature trees and shrubs as green cover.
The project also includes a yacht marina and 24 food and beverage outlets. The “multi-generational destination” is expected to open and welcome guests in 2025.
“Developing a unique, sustainable, and exclusive destination in the high-returns tourism industry of the Maldives is an exceptional opportunity,” said Bourtov and Majumder.
The Private Office of Sheikh Abdulaziz bin Duaij bin Khalifa Al Khalifa supports Projekt Delfin, according to Khaleej Times.