Dubai [UAE], October 7: The Maldives Fund Management Corporation (MFMC) participated in the prestigious Future Hospitality Summit (FHS) 2024, held in Dubai from September 30th to October 2nd. As a government-backed organization driving investment in the Maldives, MFMC represented the island nation by sharing insights into investment opportunities, sustainability initiatives, and the future of the Maldivian tourism industry.
MFMC, a key player in the economic landscape of the Maldives, has been entrusted with steering investment toward strategic sectors essential for the country’s sustainable growth. Its core focus areas include tourism, infrastructure, and renewable energy, sectors vital to supporting the Maldives’ national development goals. Through its investment efforts, MFMC aims to strengthen the economy while fostering long-term sustainability across these industries.
The Future Hospitality Summit, renowned for bringing together global leaders, policymakers, investors, and experts in hospitality, was a key platform for MFMC to highlight its initiatives. This year’s summit was centered around themes such as Real Estate Hotelisation, Sustainable Construction, and Technological Innovation, with a special emphasis on how these trends will shape the future of hospitality and global investment. These themes resonate with MFMC’s commitment to integrating sustainability and technology into its tourism development projects.
During the summit, MFMC took the opportunity to unveil several of its major tourism initiatives during a panel discussion titled ‘Building the Future: The Changing Face of Market and Investor Growth in the Maldives.’ Eezan Shahul Hameed, Chief Commercial Officer of MFMC, spoke on the panel alongside notable industry figures such as Amman Shah, Executive Director of Dubai Holdings Investment, Tony Miki, Partner at Foster and Partners, Majd Hamamouchi, Corporate Business Development Director of TIME Hotels. The panel examined the evolving market landscape and investor interest in the Maldives, with a special focus on MFMC’s role in shaping the future of the country’s tourism sector. Additionally, MFMC’s Managing Director, Ahmed Nazim, contributed to the event as a member of the advisory board for FHS, further solidifying the corporation’s involvement in the summit’s strategic discussions.
Beyond this session, MFMC actively participated in several other key discussions at FHS. ‘New Horizons Ahead: Trends and Developments in Tomorrow’s Designs,’ and ‘Branded Residences: A New Era in Real Estate Investment.’ These discussions provided MFMC with the opportunity to showcase its strategic vision for the Maldivian tourism industry, particularly in terms of leveraging emerging trends to drive sustainable growth and attract global investors.
A highlight of this year’s summit was the introduction of ‘Country Pavilions,’ a new feature designed to spotlight emerging hospitality projects and highlight investment opportunities in high-ROI ventures from different nations. As the official representative of the Maldives, MFMC used this platform to present some of its flagship tourism projects. Among them were the Gaafaru Integrated Tourism Development Project, Hankede Integrated Tourism Development Project, Addu Nature Park, and the Dhiyaneru Yacht Marina and Safari Harbour. These projects reflect MFMC’s ambition to diversify the Maldives’ tourism sector and drive the next phase of growth.
The Gaafaru Integrated Tourism Development Project, for instance, involves the creation of two luxury resorts and 14 private islands within the same lagoon. For the first time in the Maldives, these private islands will be available for sale to individual buyers under long-term lease agreements of up to 99 years. This unprecedented move will allow buyers to develop their own private homes on the islands. Additionally, MFMC will be offering a residency-by-investment program tied to the sale of these real estate properties, providing buyers with benefits such as multi-entry visas, fast-track services, and tax savings. MFMC also introduced the Hankede Integrated Tourism Development Project, located in the southernmost atoll of Addu. Set to begin in November 2024, this ambitious project will transform the region into a premier tourism destination. The development will feature an array of facilities, including grand and deluxe hotels, restaurants, water sports centers, and other attractions, all within a designated tourism zone. Upon completion, the zone will offer over 1,000 rooms (2,088 beds) and a real estate component, including serviced apartments, beach villas, and water villas available for purchase.
Another key project showcased was the Dhiyaneru Yacht Marina and Safari Harbour, which is designed to cater to the growing number of superyachts and safari vessels visiting the Maldives. Strategically located near Velana International Airport, just five minutes by speedboat, this development will feature a state-of- the-art mooring and berthing harbor, a yacht club, hotels, and restaurants, enhancing the Maldives’ appeal as a top destination for high-end travelers.
Last month, President of the Maldives, Dr Mohamed Muizzu, announced the government’s plans to roll out a residency-by-investment program, designed to attract foreign capital and create new investment opportunities in the country. This initiative is seen as a pivotal move for the Maldives, aligning its investment strategy with global destinations like Dubai that have successfully evolved into business-driven hubs. The Maldives Fund Management Corporation (MFMC) aims to utilize this program to boost investor interest in its real estate components of the projects currently undertaken by the corporation, further elevating the attractiveness of its current developments.
MFMC’s participation in the Future Hospitality Summit 2024 was met with keen interest from industry leaders, investors, and policymakers. The corporation’s pavilion attracted significant attention, and MFMC is optimistic that the connections made at the summit will lead to fruitful collaborations and investments in the Maldives’ tourism future. Through its pioneering efforts, MFMC continues to play a pivotal role in transforming the tourism landscape of the Maldives and driving sustainable economic development in the country.
Media Contact
Ahmed Nazim, Maldives Fund Management Corporation, 9603316362, ahmed.nazim@mfmc.mv, https://mfmc.mv/
SOURCE Maldives Fund Management Corporation