FAM Holding Group recently announced a major resort development project, Al Mahra Maldives, with an estimated cost of $218 million. The project is expected to be completed in two years, with the handover scheduled for Q2 2025. FAM Holdings has revealed fresh information and visual representations of the development, which is currently in the design phase. Construction is set to commence in August 2023.

Situated on the island of Fonagaadhoo in Laamu Atoll, the resort takes its name from the chairman of FAM Holding Group, Faisal Ali Mousa’s 5-year-old daughter, Mahra. The name “Mahra” translates to “stallion” in English, symbolizing elegance and strength. Notably, the Maldives resort shares its name with its sister property, Al Mahra Resort, located in Ras Al Khaimah, UAE.

Sustainability is a core value of the project, even if it means delaying the opening. Faisal Ali Mousa emphasized the need to source suitable materials from external suppliers, given their unavailability in the Maldives, resulting in a longer construction timeline. Consequently, the project is projected to span two and a half years.

Al Mahra Maldives will prioritize solar energy, with power generation handled by FAM Ganz Green Energy, a subsidiary of FAM Holding. Additionally, the resort will implement an innovative water desalination process that allows the return of rejected salty water to the sea without harming the marine ecosystem.

It’s important to note that the Al Mahra Maldives project is still in its early stages, with only 5% of units sold to investors thus far, according to Faisal Ali Mousa.