Dubai-based FAM Holding Group has announced plans to develop a luxury resort in the Maldives.
The company’s first real estate project outside the UAE, the Al Mahra Maldives resort will be developed on a 100,000-square metre island with 150 villas with private pools, including 100 water villas, 40 beach villas and 10 villas reserved for VIPs. The resort will also feature three restaurants, a spa and a gym.
Construction will commence in three months with the project completion scheduled for mid-2025, according to an announcement made ahead of the Arabian Travel Market 2023, which is taking place at the Dubai World Trade Centre, from 1 to 4 May.
“Through Al Mahra Maldives touristic resort project, FAM Holding Group aims to expand in the real estate investment outside the UAE for the first time, and strives to tap into the Maldives, particularly that this archipelago currently witnesses a remarkable growth, as it became the bucket list destination for many travel and tourism lovers all over the world, to bask in its pristine beaches, virgin nature, serene lifestyle, and smiling faces of the locals, a matter which makes it an ideal oasis for tranquility and relaxation,” said Dr Faisal Ali Mousa, the Chairman of FAM Holding Group.
“The Maldives was selected as it is a global touristic destination that the people of Arabian Gulf, Asians and Europeans visit. Moreover, the majority of famous trademarks and big touristic companies have a presence there, not to mention the fact that the UAE is one of the biggest Middle Eastern investors in the Maldives, and its investments there cover many sectors, particularly tourism and transportation,” added Ali Mousa.
“The new project will attract tourist from all over the world, and will contribute to integration with the other projects of FAM Holding Group inside and outside the UAE,” said Ali Mousa.
“The project is deemed the extension of the trademark, Al Mahra, which is owned by the Group, and it’s expected to be launched in other countries, as Al Mahra Resort in Al Marjan Island, Ras Al Khaimah met a huge success. This is why the Group aims that this resort be a global touristic trademark, which is spread inside and outside the UAE.”
Established in 2005, FAM Holding invests in five main industries: real estate development, contracts, chemical industries, movie production and IT.