On 25 August 2025, the development was officially inaugurated by Minister of Finance and Planning Moosa Zameer, together with MTDC Chairman Abdullah Faiz.
The President's Office
In a significant step towards expanding tourism in South Thiladhunmathi Atoll, President Dr. Mohamed Muizzu has announced that the Maldives Tourism Development Corporation (MTDC) will begin practical work on the long-awaited Naagoashi project.
Speaking to residents of Naivaadhoo, President Muizzu emphasized that the Naagoashi initiative had been delayed for years but is now finally moving forward. He confirmed that the necessary materials for the project have been mobilized through the joint efforts of the Ministry of Finance and the Bank of Maldives (BML).
On 25 August 2025, the development was officially inaugurated by Minister of Finance and Planning Moosa Zameer, together with MTDC Chairman Abdullah Faiz.
Once completed, Naagoashi will mark a milestone as the first resort to open in Haa Dhaalu Atoll. The island, initially leased to MTDC on 17 September 2006, faced years of setbacks that left the project incomplete. However, in December 2021, MTDC subleased the island to Global Resorts, which has since completed the work plan and concept design, both of which received approval from the Ministry of Tourism. Global Resorts is currently finalizing the Environmental Impact Assessment (EIA) and preparing to mobilize on-site.
According to MTDC Managing Director Ahmed Niyaz, the Naagoashi project will be developed in two phases. The first phase will establish 183 rooms, with the resort expected to open by December 2026. Upon full completion, Naagoashi will become the largest one-island resort property in the Maldives.
