FAM Holding, a Dubai-based conglomerate of business solutions across a number of industries established by Dr.Faisal Al Naqbi, has launched “Al Mahra Maldives” Resort, its luxurious hotel residential project in the Maldives.
The project, which will receive investments of about $218 million, is deemed one of the latest real estate development projects to be launched by the Group, and its first real estate expansion outside the UAE.
This launching came on the margin of the 30th version of Arabian Travel Market 2023, which is being held in the Dubai World Trade Centre, from the 1st to the 4th of May, 2023.
Dr. Faisal Ali Mousa Chairman – FAM Holding
“Through Al Mahra Maldives touristic resort project, FAM Holding Group aims to expand in the real estate investment outside the UAE for the first time, and strives to tap into the Maldives, particularly since this archipelago currently witnesses a remarkable growth, as it became the bucket list destination for many travel and tourism lovers all over the world, to bask in its pristine beaches, virgin nature, serene lifestyle, and smiling faces of the locals, a matter which makes it an ideal oasis for tranquility and relaxation.”
Mr. Mousa noted that the Al Mahra Maldives resort will be established on an island with an area of 100, 000 square meters, and will comprise 150 hotel units and chalets, including 100 floating villas. Each unit in the resort will include a private swimming pool. “The project will also comprise 40 beach villas, including 10 which will be earmarked for VIPs, as well as 3 restaurants, one spa, and a gym. Moreover, the resort will feature all aquatics,” Mr. Mousa advised.
“The Maldives was selected, as it is a global touristic destination that the people of Arabian Gulf, Asians and Europeans visit. Moreover, the majority of famous trademarks and big touristic companies have a presence there, not to mention the fact that the UAE is one of the biggest Middle Eastern investors in the Maldives, and its investments there cover many sectors, particularly tourism & transportation,” Mr. Mousa explained.
“The new project will attract tourists from all over the world, and will contribute to integration with the other projects of FAM Holding Group inside and outside the UAE. The project has been deemed the extension of the trademark, Al Mahra, which is owned by the Group, and it’s expected to be launched in other countries, as Al Mahra Resort in Al Marjan Island, Ras Al Khaimah met a huge success. This is why the Group aims that this Resort be a global touristic trademark, which is spread inside and outside the UAE,” Mr. Mousa noted.
FAM Holding is one of fastest growing real estate development companies in the UAE, and it focuses upon the development of qualitative properties against affordable prices to target the middle-income categories, with payment facilitations up to 6-10 years, a matter which enabled the Company to attract a wide base of local and expatriate investors who wish to tap into the qualitative opportunities offered by the real estate sector.
The Group seeks to upgrade its activities and operations in a manner that strengthens its role in supporting the march of economic development in the UAE, and increases the sources of its income. In the context of its long-term strategy, the Group plans to expand in several markets in the region.
