A ground-breaking ceremony has been held for a new “multi-island integrated leisure and recreation destination resort” in the Maldives.

With an investment of US$311.5 million in phase one alone, Emboodhoo Lagoon will cover three islands  including a core township with F&B outlets, retail and leisure facilities.

The project is being developed and managed by Thailand-based Singha Estate. And the company’s chairman, Chutinant Bhirombhakdi, said that his believes the Emboodhoo Lagoon project will redefine the Maldives as a tourist destination and reignite the country’s tourism economy.

“Singha Estate sees a great opportunity in creating the company’s biggest and most exciting project to date in the Maldives,” said Chutinant. “The overall development which, when fully completed, will ultimately extend across nine islands, has been conceived to meet the leisure-destination desires of the world’s large and rapidly-growing medium to upscale leisure segment.”

Upon completion, the project will feature 1,300 keys, including a Hard Rock hotel and an “upscale lifestyle resort” with water villas, a 50-berth marina, a Café Del Mar beach club, and luxury retailers. The development will create over 5,000 job opportunities.

As part of the project, Singha Estate will be establishing a “marine learning centre”. Working with the local community and marine biologists, this centre will promote the culture of the island nation and introduce marine conservation schemes dedicated to preserving the biodiversity of the Maldivian ecosystem.

Speaking at the ground-breaking ceremony, the Maldives’ Minister of Tourism, Moosa Zameer, commented; “We are delighted to attend the official ceremony to mark the start of construction on this new world-class leisure development which is set to further enhance the Maldives’ international reputation as one of the world’s top tourist destinations.”

The first phase of Emboodhoo Lagoon, including the township development, is scheduled to be complete by the third quarter of 2018. The second phase will follow within the next five years.