The Dubai-based Damac Group has awarded a US$148 million contract to Maldivian company Aima Construction to build accommodation for the new Mandarin Oriental Bolidhuffaru Reef resort.
Scheduled to open in 2025, the 34-hectare luxury resort stretches across three islands in South Malé Atoll, a 20-minute speedboat ride from the Velana International Airport.
“We are fully confident in the capabilities of Aima Construction, whose track-record and enthusiasm for the project exceeded all our expectations during an extensive and highly competitive candidate vetting process. Damac Properties looks forward to seeing such a high-profile development project, the first of its kind for our group, come to fruition across the beautiful Maldives,” said Mohammed Tahaineh, General Manager of Projects at Damac Properties, the Damac Group’s property development arm.
Aima Construction was contracted to build 120 rooms with private pools, including 64 overwater villas and 56 beachfront villas.
In December last year, Damac enlisted the Mandarin Oriental Hotel Group to manage the new resort, which would also feature seven dining outlets, including three speciality restaurants and an exclusive dining venue with a pool bar, and wellness facilities located in tropical gardens that encompasses 12 treatment suites, vitality pools, sauna and steam rooms as well as a beauty salon. Aside from numerous private coves and beaches, additional leisure facilities would include a water sports and dive centre, tennis courts, a world-class kids and teens club designed by international consultants, and a swimming pool.
“Mandarin Oriental is focused on developing its resort portfolio and has been looking to enter the Maldives for some time. This project represents the right opportunity for the Group,” James Riley, Chief Executive of Mandarin Oriental Hotel Group, said after the announcement was made at the International Luxury Travel Market (ILTM) in Cannes last year.
Damac Properties is one of the top luxury real estate developers in the Middle East. Since 1982, the company has been developing a diverse portfolio of residential, commercial and leisure properties across the region and beyond.