Rasmale’ Project expected to create at least 15,000 well paid permanent jobs

The USD 20 billion waterfront and marina project planned for Rasmale’ will create 40,000 new jobs in the construction phase alone, says Mohamed Alabbar, founder and chairman of Abu Dhabi-based real estate giant Eagle Hills.

In an exclusive interview on Thursday, Alabbar told Sun that the project was expected to create 40,000 new jobs during the construction phase, and another 15,000 – 18,000 permanent new jobs.

The Emirati businessman said the permanent jobs will be at residences, hotels, restaurants and other businesses, along with parks and schools.

He added that the pay scale for these jobs is expected to be better than anywhere else.

“I think, quality jobs as well during construction. 40,000 or so. But permanent jobs 15,000 – 18,000 people,” he said.

“Most jobs in our developments, the pay scale is better than anywhere else.”

Sun Online Exclusive Interview | Eagle Hills Chairman Mohamed Ali Alabbar speaks to Sun Online about the $20 billion Rasmalé project, its development plans, investment, job opportunities and what it could mean for the future of the Maldives. Report: https://t.co/SxRdLRN2SE Follow us: Viber: https://t.co/5DJFr2vDa0 Telegram: https://t.co/QRTHLdfrR7 #sunonline #seemv #news #sunonlineheadlines #latestnews #dhivehinews #maldivesnews

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Alabbar noted that in addition to creating employment opportunities, the project will also open opportunities for local businesses, and boost tourism and investment, expanding economic activity.

On September 21, Eagle Hills signed a commercial terms agreement or letter of intent for a mega project to develop a new integrated island destination in Rasmale’, including international hotels and resorts, premium and branded residences, a world-class marina, waterfront promenades, restaurants, shops, leisure and wellness centers.

The project is described by the Maldives government as one of the most ambitious development initiatives in the country’s history.

According to the Maldives government, preliminary economic impact estimates indicate the project could attract more than USD 30 billion in gross foreign investment over its lifetime, including about USD 18 billion in net foreign investment in the Maldives.

It is also expected to create more than 54,000 direct and indirect jobs. At full maturity, the destination is expected to attract more than one million visitors annually and generate more than USD 2 billion in annual tourism revenue.