Dubai-based FAM Holding PSC Group announced the launching of Al Mahra Maldives Resort, its luxurious hotel residential project in the Maldives, on Monday.

The project, which will receive investments of about AED 800 million (USD 217.8 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 Monday to Thursday.

“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 that this archipelago currently witnesses a remarkable growth, as it became the bucket list destination for many travel & 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,” Dr Faisal Ali Mousa, the Chairman of FAM Holding Group, said.

Mousa noted that Al Mahra Maldives resort will be established on an island with an area of 100,000 square metres, and will comprise 150 hotel units and chalets, including 100 overwater villas. He added that 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 gym. Moreover, the resort will feature all aquatics”, 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.”

He underlined the fact that the Maldives offers unprecedented investment facilitations and incentives for easing the business doing, a matter that stimulates the flow of touristic investments on continuous bases. Mousa also indicated that the rise in touristic flow to the Maldives encourages the launching of new touristic projects to exploit the huge demand.

“The building works in Al Mahra Maldives will kick off after three months and will continue for two years and half, while the finishing of works and handing over the project are scheduled for the mid of 2025,” Mousa said.

“FAM Holding Group decided that the US $ will be the currency of payment for buying in Al Mahra Maldives, as the project will be marketed on a global scale, including the UAE, and there will be marketers for the project in Europe, Asia, China, India, Russia, and the USA, this is why the US $ was chosen as the settlement currency.

“The new project will attract tourist from all over the world, and will contribute to integration with the other projects of FAM Holding Group inside and outside the UAE”, Mousa added.

“The project is 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”, Mousa noted.

He expected that the group will launch other projects soon, one of them in an Arab Gulf country, while another on in an African country. Mousa stated that these projects will not be announced before obtaining all the needed approvals.

“We look for the global markets, as the status of FAM Holding was converted from LLC into PSC. The company strives to open new markets besides the UAE one in Africa, East of Asia, and the Arabian Gulf”, Mousa concluded.

FAM Holding is one 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 which 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.

One of the most coveted island destinations on the planet, the Maldives is considered by many to be the ultimate luxury wanderlust experience. This picturesque archipelago boasts bright white sands, warm calm waters and a standard of hospitality that is second to none. Now, having achieved worldwide recognition as a preeminent tropical paradise, the Maldives is looking toward the future with an eye on longevity and sustainability, making the destination a natural fit for the unique approach to luxury lifestyle offered by Rosewood Hotels & Resorts®. Rosewood Ranfaru, opening on the islands in 2027, is the latest development in the discerning brand’s thoughtful growth pipeline. The resort will reflect Rosewood’s guiding A Sense of Place® philosophy through a highly curated experience that emphasises privacy, luxury, and a connection to the natural habitat.

Stretched across a striking chain of private islands around a pristine lagoon in the South Male Atoll, Rosewood Ranfaru will be situated less than an hour away from Velana International Airport in Male. From touchdown to toes in the sand, guests will be able to make the journey to the resort via either a 35-minute yacht ride or a ten-minute seaplane hop. Both experiences will exude the same level of luxury that awaits on the property’s shores. Upon arrival to the resort, travellers will be met with endless opportunity to embark on truly restorative getaways, all surrounded by stunning views of the world’s most beautiful sunrises and sunsets. Developed by Estithmar Holding, this project represents the next generation of Maldives tourism and elevates the overall luxury offerings available in this sublime corner of the globe.

“The Maldives has its own mystique and allure,” says Radha Arora, President of Rosewood Hotels & Resorts. “Given its well-earned reputation as a haven for discerning travellers, we are excited to bring our unique brand of lifestyle and hospitality to this chain of islands. We are confident that through our commitment to immersive amenities, world-class design, and high-touch service, Rosewood will be able to offer the next iteration of Maldivian paradise.”

Rosewood Ranfaru will offer approximately 120 beachfront and overwater villas, ranging in size from one- to five-bedrooms, all with private pools and a select number located on private islands. In true Rosewood fashion, unsurpassed service and amenities will be central to the guest experience, including a Rosewood Explorer’s Club to spark discovery and inspire imagination among the youngest visitors. At the heart of the property will lie several specialty restaurants, a beach club, and an Asaya® well-being facility and fitness centre, together offering a holistic wellness escape. A true leisure oasis, Rosewood Ranfaru will also feature numerous swimming pools, both for adults and families; paddle courts, and an array of water sports that will allow guests to fully explore the peaceful and crystal-clear waters of the encircling lagoon.

“I am delighted to announce our latest investment in the Maldives, a destination that offers unparalleled beauty and a vibrant culture, making it one of the most attractive tourist spots in the world,” says Moutaz AlKhayyat, Chairman of Estithmar Holding. “We believe that the Maldives is an ideal location for investment and tourism, and it continues to attract visitors and investors from around the world with its friendly atmosphere and supportive government policies. Our new resort development aligns perfectly with our company’s vision and growth plans, and we are excited about the prospect of expanding our portfolio of luxury travel destinations.”

Rosewood Ranfaru’s world-class team of associates will leverage their rich understanding of the destination to create a highly curated menu of on- and off-property experiences designed to truly immerse guests into their surroundings. Their guiding mission will be to showcase the undiscovered sides of this island paradise.

The Maldives is a tropical paradise that has captivated visitors from around the world with its crystal-clear waters, soft white sand beaches, and stunning natural beauty. The Rihiveli Maldives Resort is one such destination that has been drawing tourists to its shores since it first opened its doors in 1982.

Nestled amidst the turquoise waters of South Male’ Atoll, Rihiveli Maldives Resort is a barefoot paradise that offers a tranquil retreat from the hustle and bustle of everyday life. The resort’s pristine beaches, lush greenery, and clear blue waters provide the perfect setting for guests to relax and unwind.

One of the unique features of the Rihiveli Maldives Resort is the Totem of Memories. This structure is a testament to the resort’s commitment to providing its guests with a memorable experience that they will cherish forever. The Totem of Memories is a wooden structure that is located on the island and is adorned with wooden fishes that have been engraved with the names of guests who have visited the resort more than three times.

The Totem of Memories is a unique way for guests to become a part of the Rihiveli Maldives Resort’s legacy. It is a place where guests can immortalize their love for the resort and the memories that they have created during their visits. The wooden fishes that are engraved with the names of guests serve as a symbol of the special bond that they share with the resort and the staff.

For guests who have visited the Rihiveli Maldives Resort four or more times, the Totem of Memories holds a special place in their hearts. It is an honor for them to be able to engrave their name on a wooden fish and fix it onto the Totem of Memories, making them a permanent friend of the resort. It is a gesture that speaks volumes about the resort’s commitment to creating a warm and welcoming atmosphere for its guests.

Over the years, the Rihiveli Maldives Resort has become a second home for many of its guests. Some guests have visited the resort over 30 times, a testament to the resort’s enduring appeal. The Totem of Memories is a reminder of the lasting memories and the special bond that guests share with the resort.

The Totem of Memories at the Rihiveli Maldives Resort is a unique and heartwarming way for guests to become a part of the resort’s legacy. It is a symbol of the special bond that guests share with the resort and the staff, and a reminder of the memories that they have created during their visits. For those who have visited the resort more than three times, the Totem of Memories is a special honor that they will cherish forever.