Permit Issued for $790 Million Township Project in Noonu Atoll

The Maldives government has granted a permit under the Special Economic Zone (SEZ) Act for a $790 million township project in Noonu Atoll. Developed by Crystal Holdings, the project will span Dhigufaru lagoon, Dhekenenfaru reef, and Kuramaadhoo. This marks the first sustainable township permit issued under the SEZ Act, signaling a shift towards diversifying development beyond tourism. The project will feature a state-of-the-art hospital, an international hospitality and leadership school, and an island dedicated to advanced agriculture and aquaculture systems. Sixty percent of the electricity will be generated from renewable energy, with an estimated completion date of 2028. The project aims to boost employment and regional business activities, aligning with national development goals.