Dubai-Based Firm to Invest $8.8B to Develop Blockchain Financial Hub in Maldives

A Dubai-based family office, MBS Global Investments, plans to invest $8.8 billion to develop a blockchain-focused financial hub in the Maldives, specifically in the capital city, Male. This initiative aims to diversify the Maldives' economy beyond its traditional reliance on tourism and fisheries and to address its mounting debt crisis.

The investment will be deployed over five years through a joint venture with the Maldives government.

The Maldives International Financial Centre (MIFC) will cover approximately 830,000 square meters and is designed to accommodate 6,500 residents and create up to 16,000 jobs.

The hub will function as a global financial free zone centered on blockchain and digital asset services, offering a corporate tax-free zone and no residency requirements for entrepreneurs, making it attractive to global digital nomads.

The project aims to triple the Maldives' GDP within four years and generate over $1 billion in revenue by the fifth year, significantly boosting the country's economy.

The investment exceeds the Maldives' current GDP of around $7 billion, with preliminary funding commitments already exceeding $4 billion, sourced from equity and debt through a consortium of high-net-worth individuals and family offices.

The infrastructure will be climate-resilient and powered exclusively by renewable energy.

This strategic move positions the Maldives as an emerging player in the global crypto and blockchain ecosystem, though it will face competition from established crypto hubs like Dubai, Singapore, and Hong Kong.

The Maldives Finance Minister Moosa Zameer has expressed optimism that the project could alleviate the country's significant debt challenges and serve as a new economic pillar.

The $8.8 billion investment led by Dubai's MBS Global Investments represents a transformative effort to establish the Maldives as a major blockchain financial hub, with broad economic and employment benefits expected upon completion around 2030.

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