Hotels and Resorts Investments (HRIM) has partnered with Finland's Meyer Floating Solutions to build luxurious floating villas in the Maldives. The agreement, valued at USD 200 million (MVR 3 billion), aims to create opulent accommodations specifically designed for the ultra-wealthy clientele.
The signing ceremony between HRIM and Meyer Floating Solutions took place at Kurumba Maldives, marking the official collaboration between the two companies. The project will involve the development of 13 extravagant floating villas in Kaafu atoll Vilivaru.
Meyer Floating Solutions, renowned as the largest developer of cruise lines worldwide, brings its expertise to this endeavor.
During the Covid-19 pandemic, a quarantine facility was established at Vilivaru.
Chairman of HRIM, Mohamed Ali Janah said that the European Investment Bank has provided the required funds for the construction of these luxurious villas. Janah expressed his enthusiasm for introducing new concepts to the Maldives, even though he has previously undertaken significant resort construction projects. The partnership with Meyer signifies the introduction of a completely unique technology in the Maldives.
As part of the project, the initial 13 villas will be offered for sale at a price exceeding USD 20 million (MVR 300 million).
An exclusive event will be organized to showcase and sell these luxurious villas to prospective buyers. Janah highlighted that in countries like Dubai, similar villas are sold for prices ranging from USD 45 million to even USD 60 million, indicating the potential for the Maldives to embrace such luxury properties.
Director of Meyer Floating Solutions, Mikko Lahtonen expressing confidence in the success of the project, said that the luxurious villas will be open for purchase by both Maldivian nationals and international buyers.
With the utilization of advanced construction technology, each villa is estimated to be completed within approximately six months. HRIM aims to have all the villas ready for sale by 2024.
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