“Fam Holding” group announced the release of “Maldives” resort, their hotel residential project at the Maldives with 800 Million AED investments
“Fam Holding” group project details
On Sunday, the company stated that this project is considered to be one of the newest projects of development and real estate group, also the first project outside Emirates country in real estate development.
Faisal Ali Mousa, the Chairman of “Fam Holding” group commented that the company is trying to expand in the real estate investment outside Emirates country for the first time through the release of “Maldives” resort, and it is trying to benefit from available growth chances in the Maldives, specially that the Maldives now have a remarkable growth rate.
He added that “Maldives” resort project will be executed on an island with an area of 100 thousand square meter, and it will include 150 hotel and chalet units.
He mentioned that the Maldives have chosen to be the project’s location as it’s an international touristic destination, where Asian, European and Gulf residents always travel, in addition to the most trademarks and the biggest tourism companies are found there, beside that Emirates is considered to be one of the biggest investors of the Middle east in many fields such as transportation and tourism at the Maldives.
Maldives real estate
He stated that construction works of the “Maldives” project will be started after 3 months from now, and it will last over 2 years and half, as the project will be ended in the middle of year 2025.
Mahra Maldives Project
The chairman revealed that the company decided to sell the units in “Maldives” project in US Dollars, as the project’s marketing will be worldwide, and the sales will be offered inside Emirates, and there will be marketers in Europe, Asia, China, India, Russia and America, so that US Dollar was approved.
As he expected to release other projects by his group soon, one of them in a Gulf country and the other one in Africa, and it won’t be announced to those projects until obtaining all required approvals.
He also mentioned that:” we are looking forward to the international markets with a transformation from a limited liability company to a private joint stock company, and the company is seeking to start new markets in East Asia, Africa and Gulf beside Emirates market.
