The sustainable township known as Project Ayla has been designated as a Special Economic Zone (SEZ) under a presidential decree issued on Wednesday.
The government has signed a USD 790 million (MVR 12 billion) investment agreement with Crystal Holdings to develop the Ayla Sustainable Township in Noonu Atoll. According to the Ministry of Economic Development and Trade, the project is scheduled for completion by 2028, making it the first sustainable township of its kind in the atoll.
Under the presidential decree, eight categories of development are permitted within the SEZ. These include high‑quality real estate, an international‑standard healthcare facility, an international‑standard hospitality and leadership training centre, and an ultra‑luxury tourist resort, hotel and marina targeting high‑net‑worth visitors. The zone must also operate on at least 60 percent renewable energy, and may include modern agriculture and aquaculture systems, facilities for residents and their families, and essential services for workers and their families.
USD 790 million (MVR 12 billion) investment agreement signed for the development of ‘Ayla Sustainable Township’, a sustainable township in Noonu Atoll on December 31, 2025. (Sun Photo/Mohamed Riyaz)
The government has allocated Dhekenanfaru, located east of Dhigufaru, along with Kuramaadhu and the Kuramaadhu lagoon south of Digufaru, for the development of the Ayla Sustainable Township. The area lies in the northwestern part of Noonu Atoll.
Economic Minister Mohamed Saeed said the township will play a significant role in elevating the Maldivian economy, creating new employment opportunities and opening avenues for investment. He said the government aims to move the project forward as quickly as possible.