MBS Global Investments and The Maldives will create a new $8.8 billion-global financial hub. The project is expected to generate over $1 billion in revenue within five years, significantly boosting the Maldives’ GDP.
Qatari-owned MBS Global Investments and the Maldivian government will establish an $8.8 billion-Maldives International Financial Centre (MIFC), a “Financial Freezone” in the capital, Malé to lure in financial institutions, fintech pioneers, and global digital Nomads.
“The financial centre will be a symbol of economic resilience and will set a new global benchmark that will massively benefit the people of the Maldives for generations to come,” Maldivian President Dr Mohamed Muizzu said when announcing the MIFC on Sunday.
The project, set to finish by 2030, aims to position the Maldives as a premier financial and business hub in the Indian Ocean, diversifying its economy beyond tourism.
The MIFC will offer a highly competitive regulatory framework, including zero corporate tax, tax-free inheritance, full foreign ownership rights under the Maldivian constitution, and robust privacy protections.
With no residency requirements, the financial centre is expected to appeal to entrepreneurs, wealth managers, and remote workers seeking a flexible, business-friendly environment.
Residents will also benefit from multi-currency banking and offshore private banking services, while future-ready policies will support digital assets and green finance initiatives.
President Muizzu said on his X page that the MIFC will be the country’s “legacy.”
“A legacy of not only brick and steel, but of bold decisions, courageous partnerships, and national purpose,” he wrote. The Maldives, he added, “is ready to lead in reimagining the future of finance, sustainability and urban living.”
Nadeem Hussain, CEO of MBS Global Investments, stated that the MIFC will “set a new global benchmark, advancing financial innovation by at least two decades,” positioning it as the next evolution of international financial hubs.
The project is projected to generate over $1 billion in revenue within five years, significantly boosting the Maldives’ GDP.
The development will span 780,000 square metres and the project is expected to accommodate 6,500 new residents. The MIFC will also feature a state-of-the-art convention centre capable of hosting 3,500 attendees, positioning the city as a leading destination for global conferences, cultural events, and innovation-driven hackathons.
The mixed-use urban district will include three iconic residential and office towers, high-end branded residences, luxury hotels, an oceanographic museum, a mosque, and an international school.
Master-planned by architect Gianni Ranaulo, the design draws inspiration from the Maldives’ marine ecosystem, integrating sustainable practices and renewable energy solutions. “Ranaulo incorporates environmentally conscious practices in all projects,” according to the press release.
The MIFC’s design will include climate-resilient infrastructure, pedestrian-friendly spaces, and underground transport systems to minimise environmental impact.
At a signing ceremony attended by high-profile international dignitaries, President of MBS Global Investment Sheikh Nayef Bin Eid Al Thani and President Muizzu oversaw the signing of the agreements by MBS Global Investments Chairman Marwan Alhajeri and the Maldivian Minister of Finance and Planning, Moosa Zameer.
Zameer described the venture as “momentous” and said the project “will attract the best businesses and visionary entrepreneurs in the world.”
