- Bahrain-based Gulf Hotels Group signed an MoU with Maldivian firm Keiretsu Pvt Ltd to develop a luxury resort in Kaafu Atoll, marking its first Indian Ocean investment.
- The planned joint venture will own, develop, and operate a single-island resort featuring beachfront and over-water villas with private pools, located 15-25 minutes by speedboat from Velana International Airport.
- The resort is expected to be affiliated with a globally recognised luxury brand, with further details to follow after agreements and approvals are completed.
Bahrain-based Gulf Hotels Group is preparing to enter the Maldives tourism market through a planned luxury resort development in Kaafu Atoll, marking the company’s first investment in the Indian Ocean region.
The project follows the signing of a Memorandum of Understanding between Gulf Hotels Group and Keiretsu Pvt Ltd, a Maldivian company involved in hospitality project development. The agreement was signed in Bahrain and sets out a framework for the two parties to collaborate on the proposed resort.
The planned development will be located within a private lagoon in Kaafu Atoll, approximately 15 to 25 minutes by speedboat from Velana International Airport. The location places the project within one of the country’s most established tourism zones, while offering relatively short transfer times for international visitors.
The MoU establishes the basis for a long-term partnership between the two companies. Gulf Hotels Group is expected to contribute its experience as an owner-operator, while Keiretsu will support local regulatory and project implementation matters.
The partners intend to establish a joint venture to own, develop and operate the resort. Gulf Hotels Group is expected to participate both as an equity investor and as the operator of the property.
According to Gulf Hotels Group, the Maldives project forms part of its broader strategy to expand beyond its traditional markets and into high-growth tourism destinations. The company views the Maldives as a market with strong long-term fundamentals and an established reputation for luxury hospitality.
Keiretsu has also framed the partnership as a way to combine international hospitality management experience with local project development knowledge. The company is expected to play a central role in navigating the local operating environment as the project advances.
The resort is planned as a single-island luxury destination, featuring beachfront and over-water villas, each with a private pool. The proposed facilities include restaurants, lounges, wellness amenities, marine and recreational activities, lifestyle programming, and venues for weddings and special events.
The development is also expected to be affiliated with a globally recognised luxury hospitality brand. Further details are expected to be announced after the relevant agreements and approval processes are completed.
Gulf Hotels Group has more than 50 years of experience in the hospitality sector, with operations spanning hotels, resorts, serviced residences, convention facilities, food and beverage, and hospitality services. Its existing portfolio covers Bahrain, the United Arab Emirates and Africa.
For the Maldives, the planned investment reflects continued international interest in luxury resort development, particularly in atolls close to the main international airport. The project, if completed, would add another foreign-backed resort investment to the country’s tourism pipeline at a time when the sector remains central to economic growth, foreign exchange earnings and employment.
