Tata Housing to develop two new luxury projects in Maldives

The Dollar Business Bureau

Real estate firm Tata Housing Development Company (THDC) announced its expansion plan in the real estate market of Maldives with the launch of two projects in luxury housing in the island nation’s capital city - Male.

THDC, which is the real estate subsidiary of Tata Sons, has started two luxury property developments at Nadhee and Odeon.

“Apex Realty Pvt Ltd, a joint venture between SG 18 Realty Pvt Ltd and THDC, will develop the projects,” the Mumbai-based company said in a statement.

THDC, which forayed into the Maldives market around 5 years back, has already finished a social housing scheme in the island nation in association with the government of Maldives.

The first project will be the Luxa One at Odeon in Male, situated in Majeedhee Magu region - the hub for retail and residential luxury projects. Luxa One project is spread across 10,000 square feet and consists of 54 luxury, three-bedroom apartments,” the statement said.

Nadhee will be the second project, situated in the exclusive residential part of Sosun Magu and is spread across 21,000 square feet, consisting of 72 luxury, three-bedroom apartments and retail spaces.

Commenting on the development, THDC Spokesperson said that we are happy to announce the launching of our luxury projects in Male. The projects at Odeon and Nadhee are planned to endorse the Male’s beauty. We also believe these would come out to be a new landmark for the island capital.”

“I am happy that Tata Housing, one of the strongest brands in the Indian Real Estate sector with offerings across various segments, is coming to Male. I am sure this association between the two countries will go a long way and strengthen the bonds between people of both the countries,” said Akhilesh Mishra, Ambassador of India to Maldives.

Currently THDC is developing real estate space of more than 70 million square feet and 19 million square feet.