Hotels & Resorts Investment Maldives (HRIM) has partnered with Finland's MEYER Floating Solutions and announced the development of ultra-luxury floating villas in the Maldives.

During a ceremony held at Kurumba Village, Mohamed Ali Janah, Chairman of HRIM signed the partnership on behalf of the company while Mikko Lahtonen, Partner and Director of Meyer Floating Solutions signed on behalf of the company.

Tourism Minister Abdulla Mausoom and Planning Minister Mohamed Aslam had also took part in the ceremony.

The first flagship project of this partnership will be the development of 13 exclusive villas at Villivaru Falhu. These luxurious properties will serve as a showcase for high-end resorts across the Maldives, offering residences and overwater assets that exemplify the epitome of luxury real estate.

Villivaru Island Resort and Spa is conveniently located just a short speedboat ride away from the Velana International Airport, and is blessed with spectacular natural beauty.

HRIM envisions this as just the beginning of a larger initiative, with plans to collaborate with local property and lagoon owners to develop more such properties in the future.

Janah also emphasized its potential to revolutionize the construction industry and elevate the luxury real estate sector in the Maldives. He noted that the financing approach, with plans to secure financing from the European Investment Bank to facilitate the sale of these exclusive villas.

Mikko Lahtonen shared his vision for the project, stating their intention to introduce a new standard of quality in real estate development on water.

He acknowledged the Maldives' status as a leader in the hospitality sector and expressed their commitment to enhancing the country's reputation by providing sustainable, high-quality construction solutions.

Dr. Abdullah Mausoom also spoke during the ceremony and highlighted the importance of the need to adapt the construction industry to the challenges posed by climate change.

He expressed his enthusiasm for this groundbreaking project and its potential to bring about a revolution in the construction and real estate sectors.