FAM Holding, a UAE real estate developer, is planning to develop its luxurious hotel residential project in the Maldives.
The Al Mahra Maldives touristic resort project, spread over a 100,000-square-meter area, will feature one hundred fifty hotel units and chalets, including one hundred floating villas with a private swimming pool in each unit.
Via the project, with a total investment of about 800 million dirhams ($218 million), FAM intends to expand its real estate investment outside the UAE for the first time and aims to tap into the Maldives.
Moreover, construction works at the project will kick off after three months and will proceed for two years and a half, while the completion of the works and handing over of the project are scheduled for the mid of 2025.