Minister of Economic Development and Trade Mohamed Saeed has stated the sustainable township project planned for Noonu Atoll is set to become a unique development in both the Indian Ocean and globally, featuring modern facilities and integrated economic, social and environmental components.

In a post shared on social media, the Minister announced that, for the first time in the Maldives, a sustainable township has been approved under the Special Economic Zone Act. The project carries an estimated cost of USD 790 million, equivalent to approximately MVR 12.2 billion, and represents a major milestone in the implementation of the SEZ framework.

The township will include world-class health and wellness facilities, along with the establishment of a leading tourism and hospitality training school. Sustainability will be a central feature of the project, with plans to generate 60 per cent of its electricity from renewable energy sources.

The development will also incorporate aquaculture and mariculture zones supported by modern agricultural technology. Alongside tourism-related infrastructure, the project will deliver socially important assets intended to support long-term national development.

Minister Saeed noted that legislative amendments were made to enable the Government to receive GST, TGST, Tourism Land Rent and Green Tax from the project. He said this would contribute to expanding the Maldives’ tax base and generating additional revenue for the Government.

The project is also expected to benefit Maldivian youth through training opportunities at the proposed world-class hospitality school, supporting skills development and employment in the tourism sector.

The developer has stated that the sustainable township is scheduled for completion by 2028. Minister Saeed added that the project demonstrates the effective implementation of the Special Economic Zone Act and reflects the delivery of President Dr Mohamed Muizzu’s development manifesto.