Maldives plans $8.8bn financial hub backed by Qatari royal: Report
Published: 06 May 2025
Hub will have no corporate taxes or residency requirements
Agencies
Doha
The government of Maldives said it plans to build an $8.8 billion financial hub backed by Dubai-based MBS Global Investments as the country seeks to address a debt crisis, Bloomberg reports.
The Maldives International Finance Centre, to be built in the capital Malé over the next five years, will have no corporate taxes or residency requirements and will offer tax-free inheritance, MBS said in a statement.MBS, the family office of Sheikh Nayef Bin Eid Al Thani, is backing the project, according to the statement, which didn’t disclose financial terms. The Financial Times reported earlier on the project.
The project is expected to generate over $1 billion in revenue within five years, significantly boosting national GDP. Spanning 780,000 square metres, the centre will accommodate 6,500 residents and feature a state-of-the-art convention centre capable of hosting up to 3,500 people, strengthening the Maldives’ appeal as a destination for international conferences, cultural showcases and tech-driven events.
