Development work on the tourist resort of Naagoashi in the Haa Dhaalu Atoll is advancing rapidly, Ahmed Niyaz, the Managing Director of the Maldives Tourism Development Corporation Plc (MTDC), said.
On-site work began in the first quarter of this year, Niyaz noted on a PSM News broadcast. Blueprint revisions were required because 12-year-old structures had severely deteriorated. A prolonged planning phase was also necessary due to a late-2025 site assessment and recent amendments to the Maldives Tourism Act.
"The planning phase required considerably more time than we had originally anticipated,” Niyaz said. “Consequently, our practical on-site work commenced during the first quarter of the year. As a result, the development initiatives for this island are now advancing at a highly accelerated pace."
Current operations include transporting materials, installing an electrical grid, deploying temporary labour accommodations, constructing a desalination plant, and finalising mockup rooms. Local councils are providing substantial assistance. "Several local councils within Haa Dhaalu Atoll are providing us with substantial assistance in this endeavour,” Niyaz explained. “As I have stated previously, God willing, this project will proceed according to schedule without any stagnation or delay, and we guarantee that all aspects of this resort's development will be finalised by early next year."
Initially allocated to MTDC in 2006, the island faced repeated development delays under subsequent leases to Russian-based Threek International Private Limited and Dubai's Galadari Holdings. Following these setbacks, the administration of President Dr Mohamed Muizzu prioritised the project, prompting the Ministry of Finance and Public Enterprises to secure financing through the Bank of Maldives.
The strategy divides the project into two phases. The first phase focuses on finalising 183 rooms, spanning beach, jacuzzi, and over-water villas, to bring the resort into full operation by early next year. Slated as one of the largest tourism islands in the Maldives, Naagoashi is projected to generate approximately 600 jobs, providing an economic infusion that the government anticipates will broadly benefit the Haa Dhaalu Atoll.