A concept video has been released for the housing project being developed in Hulhumalé at the sole expense of Abu Dhabi-based Eagle Hills—the company contracted to develop a modern marina and waterfront city in Rasmalé.

Eagle Hills will construct 5,000 housing units in Hulhumalé Phase 3, with construction scheduled to begin early next year.

The concept video for the Hulhumalé Phase 3 housing project was shared on social media by Housing Minister Dr. Abdulla Muththalib. The video features residential towers, waterfront townhomes, sports facilities, modern cafes and restaurants, public parks, and relaxation spaces. It also showcases state-of-the-art shops, swimming spots, pools, and a large waterfront mosque.

The master plan designs for the Hulhumalé Phase 3 vision shown in the video were prepared by the renowned Singaporean firm WOW Architects / Wana Wong Design. The housing units being constructed in Hulhumalé at Eagle Hills' own expense are estimated to cost between $400 million and $500 million.

This initiative is part of the massive $20 billion project awarded to UAE's Eagle Hills to develop a modern marina and world-class waterfront city in Rasmalé. The Maldives Waterfront and Marina project in Rasmalé—developed by reclaiming Fushidhiggaru Falhu, located about a 20-minute speedboat ride from Malé—is the largest project ever undertaken in the Maldives.

Spanning 1,100 hectares, the Rasmalé development will feature international hotels, resorts, premium residences, a marina, commercial hubs, entertainment services, educational institutions, healthcare facilities, and wellness centers.

The overarching Rasmalé project is expected to attract over $30 billion in total foreign investment to the Maldives, including $18 billion in net investment.