The Housing Development Corporation (HDC) has revealed preparations to develop an integrated tourist megaproject named ‘Urban Isle’ in Hulhumale Phase II.

The idea was highlighted on 29th November 2022 night at the Corporate Maldives "GOLD 100 GALA" by HDC's Managing Director, Ahmed Athif. According to a statement published by HDC via its social networks, land has been set aside in the northernmost area of Hulhumale Phase II, next to the Sheraton Full Moon Resort, for the Urban Isle project, which aims to boost various forms of tourism, encompassing a footprint of 1,03,421 square meters.

The Hulhumale' development project won't be hindered by the Urban Isle project. It is consisting of the following:

-Three medium-sized, 10-storey hotels — an area of 19,103 square meters

-Three high-end, 10-storey hotels – an area of 50,681 square meters

-Four 8-10-storey city hotels — an area of 2,850 square meters

-21 six-story guesthouses – 9,224 square meters of land

-11 three-story luxury villas – an area of 5,083 square meters

-10 plots for construction of serviced apartments in 8-12 story towers – 7,006 square meters

-Nine plots of land – 9,474 square meters for business development

The integrated tourism island contains a diverse variety of investment opportunities. The island welcomes all variety of guests, from foreign and domestic visitors to budget travelers and those looking for a luxurious stay. The residences are created to accommodate either short-term transit stays and lengthy settlements for residents and digital nomads. Urban Isle's business models include the leasing model, fixed lease model, and joint venture model. Investor submissions are not limited to any model, and investors may offer any business plan.