Local businesses would have the opportunity to establish their presence at the USD 800 million project, “Enboodhoo Lagoon” being developed in Kaafu atoll, an official from the project revealed Sunday.
Speaking to Mihaaru, the official said that a special forum would be held at the National Art Gallery in capital Male on January 17, to give information to local businesses about the luxury economic zone being developed in the ruling atoll.
“We’ll be inviting a lot of international partners to this event. Our goal is to get as many locals investing in our project,” he said.
The “Emboodhoo Lagoon” is a project conceived by the ruling government around the concept of ‘integrated leisure and recreation destination.’ The project is overseen by Thailand-based real estate developers, the Singha Estate.
The project is divided in to three phases and aims to bring luxury retail brands and hotel franchises to the reclaimed area. As such, to inaugurate the first phase of the “Emboodhoo Lagoon,” a Hard Rock Hotel is to open in the reclaimed area in October.