The Government of Maldives and Abu Dhabi-based developer Eagle Hills have signed a commercial terms agreement for the USD 12 billion "Maldives Waterfront and Marina" project in Ras Malé. The mega-project features hotels, branded residences, a marina, and civic facilities under long-term 99-year leaseholds. Built entirely on reclaimed land, the multi-phase scheme aims to establish a structured real estate sector and support the country's economic targets.