Abu Dhabi developer Eagle Hills signed a commercial terms agreement with the Maldives government in Dubai on Monday for the Maldives Waterfront and Marina project in Ras Malé, with an investment envisioned at about $20 billion across phases, according to the Maldives’ SunOnline and Plus and the newspaper The National.

The figure is the project’s total estimate; the company has not disclosed how much it will invest or on what timetable. The Maldives government estimates more than 54,000 jobs, and the project follows the $8.8 billion financial centre agreed with Dubai’s MBS Global Investments in May 2025.