Tata Housing, a subsidiary of Tata Sons Pvt Ltd, announced that it would invest roughly $36 million in two new residential developments in Male, Maldives, at Nadhee and Odean.
There will be 117 premium three-bedroom apartments in the two projects.
The project is being created in a public-private collaboration with the Maldives government and is located on Majeedhee Magu City Centre Road, the island’s retail and residential luxury centre. The two residential plots will be developed by Tata Housing, with a total development area of 2.52 lakh sq ft.
“We are excited to launch the second phase of our projects in Maldives. It is a premier residential development. Tata Housing is committed towards delivering unmatched spaces and elevating the living experience of its homebuyers. We sincerely thank the government of Maldives for being very investor friendly and professional. This development will be followed by island developments in the near future,” said Sanjay Dutt, managing director and CEO, Tata Housing and Tata Realty and Infrastructure Ltd.
Dutt added, “Maldives is fast growing; however Male City needs more to meet the appetite of growth of Maldives as an economy and the rising standards of its citizens. We are committed to play our part as a responsible real estate development company.”