ADGM-based Atoll Estates is building the world’s first sustainable resort in the Maldives
Abu Dhabi Global Markets (ADGM) registered Atoll Estates Holding has launched Projekt Delfin in the Maldives – the first luxury tourism development to rely on renewable energy sources for its operations.
The multi-generational destination is expected to open to tourists in 2025. The proposed development is a multi-million dollar project and is being designed by the world’s top architects and designers with presence in the Middle East.
“Through the use of renewable energy, efficient buildings and a circular economy for waste, the development will be net carbon neutral without compromising guest comfort, improving their overall experience,” the co-commentators said. founders, Dmitry Burtov and Amit Majumder.
Atoll Estates has a wholly owned subsidiary in the Maldives, Prime Atoll Maldives Pvt Ltd, established solely for the development and operation of the project. “Sustainability is at the heart of the project, and every aspect of an ESG investment portfolio is taken into account. It aims to deliver beyond current requirements,” the co-founders said.
The proposed site for Projekt Delfin is a vast lagoon in the South Male Atoll, 40 minutes by boat from Male International Airport. The site is 5 km and 1.35 km wide and has a few small islands and sandbars. To build the resorts, the site will be covered with deep-sea sand to have minimal impact on the lagoon ecosystem. Several other initiatives are planned to mitigate the effect of the reclamation. When complete, the development will add nearly 50 hectares of green cover of mature trees and shrubs. An extensive coral rejuvenation program will be initiated immediately following land reclamation. The development will take place on several islands, and each of the stations will have a minimum distance of 500 m from each other, connected by walkways on stilts.
The company was founded by industry professionals and developers to create unique tourism destinations and products, which will be environmentally, socially and culturally sustainable in each geographic location, catering to a wide range of the tourism market segment.
“Developing a unique, sustainable and exclusive destination in the Maldives’ high-return tourism industry is a tremendous opportunity,” said Bourtov and Majumder.
According to statistics from the Maldives Ministry of Tourism for 2021, with the exception of Russia, India and Germany, the UAE is consistently among the top 5 countries whose residents have invaded the scenic island country . With an increasingly resilient economy, which has recorded a steady average growth of 7% per year for the past 20 years, the Maldives is committed to diversifying its portfolio to pursue economic growth by encouraging investment in targeted sectors. .
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