The Government of the Maldives has formally opened a new chapter in national growth by granting the country’s first permit for a “Sustainable Township” under the amended Special Economic Zones Act (SEZ). This historic approval empowers a landmark project worth more than USD 790 million, authorised for development by Crystal Holdings Private Limited following thorough vetting by the relevant investment authorities.
This milestone signals a deliberate pivot away from exclusive reliance on traditional resort-based tourism toward a future built on integrated, multi-sector economic transformation. Government officials highlight the initiative as a decisive invitation to long-term investors, knowledge-based industries and strategic global partners who view the Maldives as fertile ground for sustainable, diversified growth.
The approved township will combine luxury residential and hospitality developments with essential social and economic infrastructure. According to the plan, residents and visitors will benefit from a modern healthcare complex, positioning the Maldives as a hub for medical and wellness tourism. The project also proposes an international-level hospitality and leadership school, and a dedicated island zone for advanced agriculture and aquaculture — a move that supports national food-security goals and reduces reliance on imports.
Sustainability lies at the heart of the plan. At least 60 percent of the township’s energy needs will be met through renewable sources, underlining the Maldives’ commitment to environmental responsibility and its broader carbon-reduction objectives.
With operations slated to begin in 2028, the township is expected to generate high-value employment, broaden regional economic activity, and attract long-stay visitors and high-net-worth individuals. Officials say the project will directly support national ambitions to expand economic opportunities, enhance resilience, and build a competitive global positioning beyond traditional tourism.
The issuance of this permit reflects the Government’s unwavering commitment to innovative, forward-looking investments crafted to strengthen socio-economic stability, enhance public amenities and guide the Maldives toward a diversified, sustainable, and globally competitive economy.
