Housing Development Corporation (HDC) announce a new integrated tourism project, dubbed the ‘Urban Isle’.
The project was announced by HDC Managing Director Ahmed Athif at the 2022 edition of the Gold 100 Gala held at CROSSROADS Maldives. Speaking about the urbanization effort, situated at the northern-most end of Hulhumale’ Phase II, Athif said the large scale project was not “just for large investors but also for small and medium businesses as well”.
The project covers 23 hectares of land area, with multiple accommodation options ranging from villas, service apartments along with different hotel categories. Investors have the option to propose their investments under lease model, fixed lease model and JV model, reports HDC.
Project Scope
- Development of commercial ‘spine’: 9,474 square-meters | 9 plots
- Service apartments: 7,006 square-meters | 10 adjoining plots | 8-12 floors each
- Luxury Villas: 5,083 square-meters | 11 adjoining plots
- Midscale hotels: 19,103 square-meters | 3 plots (large) | 10 floors each
- Upscale hotels: 50,681 square-meters | 3 plots (large) | 10 floors each
- City hotels: 2,850 square-meters | 4 plots | 8-10 floors
- Guesthouses: 9,224 square-meters | 21 plots | 6 floors each