Naagoashi Resort Development Speeds Up With 600 New Jobs Expected by 2026

Development of the Naagoashi tourist resort in Haa Dhaalu Atoll is accelerating, with mockup rooms nearing completion and a target opening date for early next year. Ahmed Niyaz, Managing Director of the Maldives Tourism Development Corporation Plc (MTDC), confirmed that on-site work is now proceeding at a rapid pace following a complex planning phase. Work began in the first quarter of this year after significant blueprint revisions were required. Niyaz explained that existing structures, some over 12 years old, had deteriorated severely. Additionally, the planning process was extended to accommodate a late-2025 site assessment and recent amendments to the Maldives Tourism Act. "The planning phase required considerably more time than we had originally anticipated," Niyaz stated. "Consequently, our practical on-site work commenced during the first quarter of the year. As a result, the development initiatives for this island are now advancing at a highly accelerated pace." Current operations focus on critical infrastructure, including the installation of an electrical grid, the construction of a desalination plant, and the transportation of essential building materials. Temporary labor accommodations are also being deployed to support the workforce. Niyaz credited the local councils within Haa Dhaalu Atoll for providing substantial assistance to ensure the project remains on track. The project's history is marked by long delays. Originally allocated to MTDC in 2006, the island saw failed development attempts under leases to Russian-based Threek International and Dubai's Galadari Holdings. The current momentum follows the administration of President Dr Mohamed Muizzu prioritizing the site, with the Ministry of Finance and Public Enterprises securing necessary financing through the Bank of Maldives. The development is split into two phases. The first phase centers on completing 183 rooms—a mix of beach, jacuzzi, and over-water villas—to make the resort fully operational by early next year. Once complete, Naagoashi will be one of the largest tourism islands in the country. The project is expected to generate approximately 600 jobs, providing a significant economic boost to the residents of Haa Dhaalu Atoll.