With the opening of Al Mahra Maldives, the latest luxury hotel residential project by Dubai-based FAM Holding P.S.C., the country of the Maldives. One of the most recent real estate development projects the group has begun is this, its first real estate expansion outside of the United Arab Emirates. The project, which will be built on a 100,000 square meter island, will attract investments totaling roughly AED 800 million. 150 hotel rooms and chalets, including 100 floating villas, 40 beach villas, three restaurants, one spa, and a fitness center will be included. All aquatics will be included in the project.
The Maldives was chosen because it is a well-liked tourist destination on the international stage and the perfect refuge for peace and leisure, according to Dr. Faisal Ali Mousa, Chairman of FAM Holding Group. Launching new tourism initiatives to capitalize on the enormous demand is encouraged by the increase in visitors to the Maldives. Beginning in three months and lasting for two and a half years, the construction project is expected to be completed in the middle of 2025.
The new project will bring in visitors from all over the world and help integrate FAM Holding Group's other projects both inside and outside of the UAE. This endeavor is seen as a development of the group's registered trademark, Al Mahra. The firm anticipates starting new initiatives soon, one of which will be in an African nation and another in an Arab Gulf nation.
One of the UAE's fastest-growing real estate development firms, FAM Holding, concentrates on creating high-quality homes at competitive prices in order to appeal to middle-class buyers. To boost its support of the UAE's economic development and diversify its revenue streams, the company intends to expand in a number of regional markets.