Ground broken for USD 790M sustainable township in Noonu Atoll

Groundbreaking has been held for Project Ayla, a USD 790 million project marking the Maldives’ first sustainable township development, which is a Special Economic Zone (SEZ) initiative under the SEZ Act.

The sustainable township spans three lagoons—Dhigufaru, Dhekenanfaru, and Kuramaadhoo Falhu—in Noonu Atoll, which will be developed as separate islands.

Groundbreaking for the project took place at a special ceremony in Noonu Atoll on Thursday morning which was officiated by President Dr. Mohamed Muizzu. He was joined by Economic Minister Mohamed Saeed, Infrastructure Minister Dr. Abdulla Muthalib and representatives from Crystal Holdings Private Limited, the contractor for the project.

According to the government, the SEZ project aligns with the administration’s vision for economic self-sufficiency and is expected to set an example for sustainable development in the Indian Ocean and worldwide.

The government added that the project goes beyond conventional tourism, and will significantly transform the Maldivian economy, including through diversification.

Scheduled for completion in 2028, the development will include luxury residences, an ultra-luxury resort with a marina, an international-standard healthcare facility, and a world-class school of hospitality and leadership. It will run on at least 60 percent renewable energy.

This will effectively elevate the Maldives from a holiday destination to a place to live, invest, and build long-term value.

The sustainable township will also feature its own waste management infrastructure an and incorporate sustainable aquaculture and agriculture systems to reduce Maldives’ reliance on imports for food products.

The agreement between Crystal Holdings and the Maldivian government was signed in December. During the same month, the company also received the required permits to implement the project.