Maldives targets Mideast investors with ‘smart city’ island

Country’s first planned city and most ambitious land reclamation project to be showcased at Cityscape Abu Dhabi
Highly popular with Middle East travellers as a tropical getaway retreat, the Maldives is set to lure investors from the region with a spectacular new island smart city to be showcased at Cityscape Abu Dhabi next month.

Located 8km off the North East Coast of the capital, Malé, and 6.5km from Velana International Airport, Hulhumalé is the first planned city in the Maldives and the most ambitious land reclamation project undertaken in the country to date.

Expected to accommodate 240,000 residents within a land mass of over 400 hectares, Hulhumalé is planned intelligently to become a smart city and will incorporate a smart grid to enhance residents’ experiences of water, electricity, fire and sewage systems which will establish the island as a global tourist hub offering world class resort beaches, diving spots and clear waters.

Additionally, a transport master plan has been developed to include smart city components such as Smart traffic management systems, automatic surveillance, ERP systems, as well as more efficient and ‘smart’ public transportation systems.

The project is managed by the government owned Housing Development Corporation Ltd (HDC) which will be introducing investment opportunities to visitors attending the 11th edition of Cityscape Abu Dhabi, taking place from 18-20 April at the Abu Dhabi National Exhibition Centre (ADNEC).

“The Maldives boasts a favourable investment climate with business profit tax maintained at 15% and offerings of residential benefits for investors, and we’ve seen an increased interest in the archipelago in recent years from visitors hailing from Middle Eastern countries; a rise of almost 24% from 2015 to 2016.

Full details are available from the link below:


Source URL: Bing News :

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