Qatari investment company, Estithmar Holding has begun the development of its new ultra-luxury resort in the Maldives.
The new resort, scheduled to open during the first quarter of 2025 will be managed by Rosewood Hotels & Resorts, the ultra-luxury global hospitality brand, and developed by Estithmar Holding’s subsidiary, Royal Resorts.
The total investment of the project is reportedly USD343 million.
The property will have 120 independent beach and overwater villas, ranging between one to five bedrooms, all with private pools.
The center of the resort will feature specialty world-renowned restaurants, a wellness facility, a beach club, and other amenities.
Estithmar Holding has developed notable properties in Qatar as well which include Al Maha Island in Lusail, Maysan Resort in Aspire, and Katara Hills Resort.
Commenting on this investment, the Chairman of Estithmar Holding, Moutaz Al Khayyat said, “The investment opportunities in the Maldives are highly flexible, and the investment environment is encouraging and plays an active role in stimulating the global private sector to innovate several projects that enhance tourism and entertainment programs.”