Damac Properties, the property development arm of the Damac Group, has awarded AED 544 million (US$ 148.2 million) major works contracts to Aima Construction Company Private Limited for the 120 villas.
Scheduled to open in 2025, the 34-hectare luxury resort will be located on the Bolidhuffaru coral reef in South Male Atoll.
This pristine tropical region is easily accessible by 30 minutes by yacht or other form of water transport from Velana International Airport in Male.
The upcoming resort, featuring its white sandy beaches and vibrant coral reefs, will provide guests with a wealth of leisure activities, water sports, gourmet experiences, health treatments and more.
In this regard, Mohammed Tahaineh, Project General Manager, Damac Properties, said: “We have full confidence in Aima Construction’s capabilities, whose track record and enthusiasm for the project exceeded all our expectations during the extensive and highly competitive candidate vetting process .”
“Damac Properties looks forward to seeing such a high profile development, the first of its kind for our group, come to fruition in the beautiful Maldives,” he said.
Under the agreement, Aima Construction will deliver 120 detached villas, of which 64 are water villas and 56 are beachfront villas.
These villas will be among the largest on the market and will also feature private pools and picturesque ocean views.
Vacationers can also choose from eight restaurants, including three specialty restaurants and an exclusive venue with a swim-up bar. In addition, indoor and outdoor events will also provide a wide range of uses for guests, it added.-TradeArabia News Service