The foundation stone for the “Aila Sustainable Township” project, to be developed in Noonu Atoll, has been officially laid. The ceremony was graced by His Excellency President Dr. Mohamed Muizzu, who performed the foundation-laying honors. This landmark initiative stands as the first major project to be executed under the Maldives’ Special Economic Zone (SEZ) framework. The government officially granted the project license on December 11 of last year. The development is situated across the Dhighufaru Lagoon, Dhekunufaru, and Kuramaadhoo area in Noonu Atoll.
Managed by Crystal Holdings Private Limited, this ambitious project represents a total investment of USD 790 million (approximately MVR 12.2 billion). Land reclamation efforts for the township commenced in March last year and were successfully completed by December. A key highlight of the township is its commitment to sustainability, with plans to generate 60 percent of its electricity from renewable energy sources. Furthermore, the development will feature a world-class healthcare facility and an international-standard tourism school. To enhance food security and promote sustainable local production, the project also includes the development of aquaculture and mariculture zones equipped with modern technology. With a target to commence operations by the end of 2028, the government envisions this sustainable township as a unique and prominent development within the entire Indian Ocean region, serving as a global model for sustainable progress.
Upon completion, the project is poised to become the new face of foreign investment in the Maldives, offering a comprehensive range of essential services for residents, employees, and their families. Additionally, the initiative is expected to stimulate the economy by creating numerous job opportunities, establishing public services, and providing avenues for education and training, thereby facilitating holistic development across the nation. This project is designed to directly benefit the citizens and accelerate the country’s economic growth in a sustainable manner.
