Qatar’s MBS Global Partners with Maldives on $8.8B Project to Establish Financial Hub

Qatari-owned MBS Global Investments and the Government of the Maldives have signed a groundbreaking $8.8 billion agreement to establish the Maldives International Financial Centre (MIFC) in Male, aiming to transform the island nation into a premier financial hub in the Indian Ocean. Designed as a “Financial Freezone,” the MIFC will attract global financial institutions, fintech innovators, and digital nomads with its zero corporate tax, tax-free inheritance, full foreign ownership, and robust privacy protections. The development is expected to generate over $1 billion in revenue within five years, significantly boosting the country’s GDP. President Dr. Mohamed Muizzu hailed the project as a national legacy and a symbol of economic resilience. The hub, set for completion by 2030, will span 780,000 square metres, house 6,500 residents, and feature luxury residences, hotels, an oceanographic museum, a mosque, and an international school. A state-of-the-art convention center for up to 3,500 attendees will also position the Maldives as a top destination for global events and innovation. Master-planned by architect Gianni Ranaulo, the MIFC will incorporate climate-resilient infrastructure, renewable energy, and environmentally conscious design inspired by the Maldivian marine ecosystem. At the official signing, attended by dignitaries, President Muizzu and Sheikh Nayef Bin Eid Al Thani of MBS Global Investments witnessed the formalization of the deal, with Finance Minister Moosa Zameer calling the project a historic step toward attracting world-class businesses and visionary entrepreneurs.