The Maldives has entered a new era of structured economic transformation with the official launch of the Ayla Sustainable Township, the country’s first development approved under the Special Economic Zone Act. President Dr Mohamed Muizzu laid the foundation stone for the landmark project today, formally commencing physical construction works.
The inauguration ceremony was held at the project site covering the Noonu Atoll Digufaru lagoon, Dhekunufaru, and Kuramaadhoo. President Muizzu attended the event as Guest of Honour, underscoring the administration’s commitment to attracting high-value investment and accelerating sustainable national development.
Known as Project Ayla, the township represents a major foreign investment valued at USD 790 million, approximately MVR 12 billion. The investment agreement was signed on December 31 last year between the Maldivian government and Crystal Holdings, the project’s developer, paving the way for implementation under the SEZ framework.
Designed as a comprehensive and future-ready township, Ayla will integrate premium hospitality and upscale residential developments alongside key economic and social infrastructure. Central to the project is a state-of-the-art hospital aimed at positioning the Maldives as a destination for medical tourism, as well as an international tourism school to train professionals in hospitality and tourism services to global standards.
The project also allocates a dedicated island for primary industries, including aquaculture and agriculture, aligning with national priorities on economic diversification and food security. Sustainability remains a core pillar of the development, with plans to operate the township using 60 percent renewable energy.
Authorised under the Special Economic Zone framework, the Ayla Sustainable Township is scheduled for completion by 2028. The project stands as a flagship initiative of President Muizzu’s economic vision, reinforcing confidence in the Maldives as a competitive, investor-friendly destination for large-scale, sustainable development.
