Triumphant presence of Maldives Fund Management Corporation at Future Hospitality Summit (FHS) World 2024 in Dubai

Known for bringing together global leaders, decision-makers, investors and hospitality experts, the Future Hospitality Summit was a key platform for MFMC to showcase its initiatives. This year’s summit focused on topics such as hotelization of real estate, sustainable construction and technological innovation, with particular emphasis on how these trends will shape the future of the hospitality industry and global investments. These themes dovetail with MFMC’s commitment to implementing sustainability and technology in its tourism development projects.

During the summit, MFMC took the opportunity to showcase some of its major tourism initiatives during a panel discussion titled ‘Building the Future: The Changing Face of the Market and the Growth of Investors in the Maldives’. Eezan Shahul Hameed, Chief Commercial Officer of MFMC, spoke on the panel alongside industry notables such as Amman Shah, Executive Director of Dubai Holdings Investment, Tony Miki, Partner at Foster and Partners, Majd Hamamouchi, Director of Corporate Business Development, TIME Hotels. The panel examined the evolving market landscape and investor interest in the Maldives, with particular emphasis on the role of MFMC in shaping the future of the country’s tourism sector. Additionally, MFMC Managing Director Ahmed Nazim attended the event as a member of the FHS Advisory Board, further strengthening the corporation’s involvement in the strategic discussions at the summit.

In addition to this session, MFMC actively participated in several other key discussions at FHS. “New horizons lie ahead: trends and changes in the designs of tomorrow” and “Branded residences: a new era in real estate investments.” These discussions provided MFMC with the opportunity to showcase its strategic vision for the Maldivian tourism industry, particularly in leveraging emerging trends to drive sustainable growth and attract global investors.

A highlight of this year’s summit was the introduction of ‘village pavilions’ – a new feature designed to highlight emerging hospitality projects and highlight investment opportunities in high-return ventures from various countries. As the official representative of the Maldives, MFMC used this platform to showcase some of its flagship tourism projects. These included Gaafaru Integrated Tourism Development Project, Hankede Integrated Tourism Development Project, Addu Nature Park and Dhiyaneru Marina and Safari Port. These projects reflect MFMC’s ambition to diversify the Maldives tourism sector and usher in the next phase of growth.

For example, the Gaafaru Integrated Tourism Development Project includes the creation of two luxury resorts and 14 private islands in the same lagoon. For the first time in the Maldives, these private islands will be available for sale to individual buyers on long-term leases of up to 99 years. This unprecedented move will enable buyers to build their own private homes on the islands. Additionally,

MFMC will offer a post-investment residency program linked to the sale of these properties, providing buyers with benefits such as multiple-entry visas, expedited services and tax savings. MFMC also introduced the Hankede Integrated Tourism Development Project, located in the southernmost Addu Atoll. This ambitious project, scheduled to start in November 2024, will transform the region into a premier tourist destination. The development will include a number of facilities, including large and luxurious hotels, restaurants, water sports centers and other attractions, all within a designated tourist zone. Once completed, the precinct will offer over 1,000 rooms (2,088 beds) and a real estate component including serviced apartments, beach villas and overwater villas available for purchase.

Another key project showcased was the Dhiyaneru Marina and Safari Harbour, which has been designed to serve the growing number of superyachts and safari vessels visiting the Maldives. Strategically located close to Velana International Airport, just five minutes by speedboat, this development will include a state-of-the-art mooring and mooring port, a yacht club, hotels and restaurants, which will enhance the appeal of the Maldives as a top travel destination for leisure and end travelers.

Last month, the President of the Maldives, Dr Mohamed Muizzu, announced the government’s plans to implement a post-investment residency program aimed at attracting foreign capital and creating new investment opportunities in the country. The initiative is seen as a key move for the Maldives to align its investment strategy with global destinations such as Dubai that have successfully transformed into business hubs. The aim of the Maldives Fund Management Corporation (MFMC) is to use this program to increase investor interest in properties included in the projects currently implemented by the corporation, further increasing the attractiveness of its current investments.

MFMC’s participation in the Future Hospitality Summit 2024 was met with great interest from industry leaders, investors and decision-makers. The corporate pavilion attracted great interest and the MFMC hopes that the contacts made during the summit will lead to fruitful cooperation and investment in the future of tourism in the Maldives. Through its pioneering efforts, MFMC continues to play a key role in transforming the Maldives’ tourism landscape and driving sustainable economic development in the country.

Contact with the media

Ahmed Nazim, Maldives Fund Management Corporation, 9603316362, [email protected], https://mfmc.mv/

SOURCE Maldives Fund Management Corporation

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