Naagoshi resort expected to open in 2027 after 20 years of delays

The resort development on HDh. Naagoshi, which was leased to Maldives Tourism Development Corporation (MTDC) in 2006, is expected to be completed within the next year, Tourism and Civil Aviation Minister Mohamed Ameen has said.

Speaking during the Ahaa public forum organised by Public Service Media (PSM) and the President's Office on Sunday night, Ameen said construction had experienced delays but work on the project was continuing.

Responding to a question from a member of the public, the minister said information available to him indicated that most of the resort's construction work had been completed.

"I will confirm the exact opening date. I believe the resort is approaching the stage where it will be ready to open within the next year or a shorter period," Ameen said.

The revised timeline follows an earlier commitment by MTDC to bring the resort into operation by December 2026.

During a visit to Haa Dhaalu Atoll in August 2025, President Mohamed Muizzu instructed MTDC to complete the Naagoshi development within one year.

At the time, MTDC said it was working to complete 183 rooms in the first phase of the project and commence resort operations by December 2026.

However, Ameen's latest remarks indicate that the opening is now expected in 2027.

Naagoshi was initially leased to MTDC in 2006 for the development of a 600-bed tourist resort. The project has since undergone several changes in development arrangements and contractors.

In 2007, MTDC entered into an agreement with Russian company Three K to develop the resort.

The agreement was terminated in 2016, nine years later, due to unpaid rent and failure to progress construction. At the time, approximately 37% of the resort's development work had been completed.

In 2017, the island was taken back from MTDC and returned to the Ministry of Tourism.

The government subsequently handed Naagoshi back to MTDC in 2021, with Dubai-based Galadari Holdings engaged to develop the resort.

However, MTDC terminated its agreement with Galadari Holdings in 2023 after construction failed to progress.

Despite the changes in development arrangements over the past two decades, the resort has yet to commence operations.

The latest announcement suggests that the project could enter operation in 2027, although the government has not confirmed a specific opening date.