Naagoashi Resort to open next year after 19-year delay

H.Dh. Naagoashi island, leased for tourism years ago, is finally slated to open as a resort next year, with the Maldives Tourism Development Corporation (MTDC) taking on the development responsibility.

The island was initially handed over to MTDC in 2006 for resort construction but remained undeveloped for 19 years.

The project was officially inaugurated by MTDC Chairman Abdullah Faiz, Bank of Maldives (BML) CEO Mohamed Shareef, BML Chairman Ahmed Ali Habeeb, and Finance Minister Moosa Zameer, during the President's official visit to the Haa Dhaalu atoll.

MTDC Managing Director Ahmed Niyaz shared details of the two-phase project, aiming to complete the first phase and open by the end of December next year. The company plans to complete 183 rooms by December, encompassing beach villas, jacuzzi beach villas, and water villas.

The resort is expected to create significant economic opportunities and will recruit and train staff before opening. Following the ceremony, the President inspected Naagoashi.

Despite MTDC being awarded the development of Naagoashi multiple times, the company has faced challenges in carrying out the work. The island was previously awarded to a Russian company in 2007 and a Dubai contractor in 2021. The government canceled the agreement with MTDC in the past due to delays in the USD 30 million (MVR 462.6 million) project.

The island was handed over to the company for 50 years in August 2017 during the government of former President Abdullah Yameen Abdul Gayoom. In 2018, MTDC decided to sell the island to an investor.

The President has stated his commitment to developing tourism in the atoll, acknowledging its current underdeveloped state.