The Minister of Tourism and Civil Aviation, Mohamed Ameen has announced that the long-awaited development of the Naagoashi resort is on track for completion, with operations expected to commence within the next 11 months.
The Minister provided the update during the "Ahaa" public forum, addressing concerns regarding the project's timeline and viability.
The development of Naagoashi has a complex history, dating back to 2006 when it was first entrusted to the Maldives Tourism Development Corporation (MTDC). After years of stalled progress with various developers and the subsequent termination of previous agreements, the project was revitalised under the incumbent administration of President Dr Mohamed Muizzu. Through a strategic partnership between the Ministry of Finance and Public Enterprises and MTDC, backed by financing from the Bank of Maldives (BML), the project was officially restarted in August of last year.
Minister Ameen confirmed that construction is progressing steadily without interruption.
"Speaking in terms of percentage, more than 50 percent of the entire work is already finished. God willing, the site will be brought into operation within around 11 months,” he revealed.
The resort is being developed in two phases, with the first phase aimed at opening with 183 units across four premium categories, including beach and water villas. MTDC officials emphasised the project's economic significance, noting that the completed resort is expected to generate roughly 600 jobs. This influx of employment and tourism infrastructure is viewed by the government as a pivotal development that will provide lasting benefits to the entire Haa Dhaalu Atoll region.