Eagle Hills founder Mohamed Alabbar has said construction preparations for the proposed $20 billion Rasmalé development could take around a year, as the project moves through detailed design, tendering and environmental studies.
Speaking to Vaguthu in an interview about the project, Alabbar said such developments typically require approximately 12 months of preparatory work following their announcement, although the process could move faster.
“Typically, when you announce a project, you need 12 months to do detailed design, to do the tender, to go on site with all the environmental studies and all that,” he said.
Alabbar added that work could begin sooner but indicated that around a year was a reasonable estimate for the preparation period.
He did not provide a confirmed construction start date or specify when the first phase of the development would be completed.
Asked about the factors that made Rasmalé a suitable location, Alabbar pointed to the site’s size and shape, its proximity to Velana International Airport and its access to Malé’s business community.
He also cited the surrounding resorts and the quality of the area’s water and coral environment as considerations in the project’s appeal.
Alabbar said the development would need to reflect the Maldives’ identity rather than replicate destinations elsewhere, adding that respect for the country’s land and people would be essential to its success.
He also highlighted the importance of local participation, saying the project should create employment, generate business for Maldivian suppliers and contribute to government revenue.
The proposed Rasmalé development is being promoted as a $20 billion investment. Its next steps include detailed planning, tendering and environmental studies, according to Alabbar’s account of the expected preparation process.
The timeline remains an estimate rather than a confirmed construction schedule, with no specific commencement date announced in the interview.
