Addu City Council has revealed that foreign investors are interested in developing a yacht marina with a 150-room tourist hotel in the area connecting Gan and Feydhoo.
Speaking to PSM News, Mayor Ali Nizar emphasised the collaborative efforts between the council and the government to boost tourism in Addu City. He mentioned that the ongoing government projects to develop 8,000 tourist beds in Addu have attracted the attention of many foreign investors.
As part of the land-use plan for Addu, a designated area near the causeway between Gan and Feydhoo has been allocated for the development of a yacht marina. Mayor Nizar revealed that several investors have already approached the council to discuss the project, with proposed concepts and funding for the estimated USD300 million venture. He noted that the chosen location for the project is already a popular docking spot for yachts.
Furthermore, Mayor Nizar mentioned that the council is currently finalising administrative tasks and plans to officially announce the project next week. He highlighted the positive impact it will have on job opportunities in Addu City, aligning with President Ibrahim Mohamed Solih's vision to revitalise the tourism industry in the region.
President Solih has emphasised his administration's commitment to developing tourism in Addu, particularly highlighting the coordinated progress of the land reclamation and road development projects. These initiatives are being carried out in conjunction with the integrated tourism project in Hankede, which encompasses a comprehensive development plan aimed at catering to various markets and sectors. Once the Hankede project and associated developments are completed, Addu City will have the capacity to accommodate 8,000 tourist beds, fostering increased tourism opportunities in the region.