Noonu Atoll to Develop $790 Million Township Under Special Economic Zone

The Maldives government has granted approval for the development of a $790 million township in Noonu Atoll under the Special Economic Zone (SEZ) Act. The project, initiated by Crystal Holdings, aims to create a sustainable town with modern amenities, including a world-class hospital, educational institutions, and luxury residential units. This marks the first sustainable township project under the SEZ Act, focusing on diversifying the region's economy beyond tourism. The project is expected to be completed by 2028 and will also feature wellness facilities, leadership schools, and a community focused on eco-friendly practices. President Mohamed Muizzu emphasized the project's role in fostering economic growth and development, aligning with the government's vision for sustainable urbanization.