The long-awaited resort development on Naagoashi Island in Haa Dhaalu Atoll has surpassed 50 per cent completion and is expected to begin operations within the next 11 months, marking renewed progress in expanding tourism development across the northern Maldives.
Minister of Tourism and Civil Aviation Mohamed Ameen confirmed the latest progress while speaking at the government’s “Ahaa” public forum on 10 October 2026. Responding to questions from the public regarding the project’s timeline and financial position, the Minister said construction is continuing steadily and that there are currently no interruptions affecting the development.
“Speaking in terms of percentage, more than 50 per cent of the entire work is already finished,” Minister Ameen said, adding that the resort is expected to be brought into operation within approximately 11 months.
Naagoashi Island, spanning approximately 76 hectares, was originally leased to the state-owned Maldives Tourism Development Corporation in 2006 for resort development. MTDC later subleased the property to a Russian developer, but construction came to a halt in 2012 following financial difficulties.
The lease was subsequently transferred in 2017 to UAE-based R.A.W Galadari Holdings. After limited progress over the following three years, the agreement was terminated and the island was returned to the management of MTDC.
The project gained renewed momentum under the current administration, with the government working through the Ministry of Finance and Public Enterprises and MTDC to establish a viable financing framework for the development. Funding secured through Bank of Maldives enabled physical construction to resume in August 2025, bringing the project back into active development after years of delay.
The resort is being developed in two phases, with the first phase scheduled to introduce 183 guest units across four premium accommodation categories. These will include both beach and water villas, positioning the property to cater to international travellers seeking high-end island experiences in one of the Maldives’ less-developed tourism regions.
The development is expected to further diversify the country’s resort portfolio while supporting the government’s broader objective of spreading tourism-related economic activity across the atolls. Northern Maldives has historically received comparatively lower tourism infrastructure investment than the central regions, making the Naagoashi project particularly significant for Haa Dhaalu Atoll and surrounding communities.
Once fully operational, the resort is expected to create approximately 600 direct employment opportunities. The development is also anticipated to generate wider benefits for local transport providers, suppliers, small businesses and service industries, strengthening economic activity across the region.
With construction now beyond the halfway stage and financing secured, the revival of the Naagoashi resort reflects the government’s efforts to activate previously stalled tourism projects, expand regional employment opportunities and encourage more balanced tourism development throughout the Maldives.
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