Minister of Economic Development and Trade Mohamed Saeed has stated that the Ayla Sustainable Township project will play a key role in elevating the Maldivian economy, positioning it as a major pillar of President Dr Mohamed Muizzu’s wider development vision. 

Speaking at the agreement signing ceremony of the project, Minister Saeed said the initiative has received strong backing from investors and expressed confidence that it will pave the way for further foreign and local investment. He noted that the township concept reflects the Administration’s commitment to new economic models and aligns with the goals outlined in Vision 2040.

According to the Minister, the township will feature world-class health and wellness facilities, a tourism school, and infrastructure powered by up to 60 per cent renewable energy. He added that the development will include agricultural zones, modern technology hubs, and dedicated sectors for aquaculture and mariculture, creating new opportunities for income generation.

Minister Saeed said the Government views the project as a catalyst for economic diversification and job creation, emphasising that it is part of efforts to expand sustainable industries and introduce modern residential and commercial infrastructure.

The Ayla Sustainable Township project, valued at USD 790 million (MVR 12.2 billion) and scheduled for completion by 2028, was signed between the Government and Crystal Holdings Pvt Ltd earlier today, signifying the start of the Maldives’ first township-style development designed around renewable energy, tourism, and mixed-use commercial activity.