The Government of Maldives held the ground breaking ceremony of Emboodhoo Lagoon Project, which is the largest tourism development project to be ever conducted in the country. The project is estimated to cost USD 800 million.
The Emboodhoo Lagoon Project is conducted as part of the Integrated Leisure and Recreation Destination Resort Concept. The USD 800 million project, contracted to Thailand-based Singha Estate Company, will see the development of 9 islands. The first phase of the Emboodhoo Lagoon Project, estimated to cost USD 331.5 million will see development of 3 islands.
The ground breaking ceremony of the project was held at the reclaimed land at Emboodhoo lagoon. Minister of Tourism, Moosa Zameer and the Chairman of Thailand's Singha Estate Company, Chutinant Bhirombhakdi laid the foundation of the project.
Speaking at the ceremony, Tourism Minister Moosa Zameer cited that the project shows faith and trust investors have towards Maldives. Noting the continuous development of the tourism sector, Minister Zameer said that the country would always welcome mega development investments. The first phase of Emboodhoo project would see development 13 hundred rooms in 3 islands and the creation of over 5 thousand job opportunities. Speaking at the ceremony, the Chairman of Singha Estate said that Maldives is a world renowned tourist destination, and that investing in the tourism sector is a huge opportunity for the company.
The first phase of Emboodhoo project would include international franchise restaurant and retail outlets, entertainment outlets, recreational facilities, and leisure and lifestyle boutiques. The project will also see the establishment of the first ever township development in the country, which will boast an international standard yacht marina.
A cultural centre will also be developed under the project. The first phase of the project along with township will be completed by mid-2018.