Eagle Hills Hulhumalé Phase 3: 5,000 Housing Units Planned

Eagle Hills has showcased designs for a major housing development planned for Hulhumalé Phase 3, presenting a vision of residential towers, waterfront townhouses, public parks, sports facilities and community amenities. The proposed development is expected to add 5,000 housing units to the Maldives' Greater Malé Region, with construction scheduled to begin in early 2027, according to reports published on 10 October 2026.

The development is significant for the Maldives real estate sector because it combines a large residential housing programme with a broader vision for urban living. The plans feature a mix of residential buildings, landscaped spaces, shops, restaurants and facilities intended to support everyday life. The project is also linked to Eagle Hills' wider investment plans in the Maldives, including the proposed Rasmalé waterfront and marina development.

For prospective homeowners, property investors and businesses following the Maldivian property market, the announcement provides an opportunity to understand the direction of planned development in Hulhumalé. However, the published concept designs should be distinguished from confirmed property sales information: individual unit prices, apartment sizes, payment plans and booking arrangements have not been detailed in the reports covered here.

What Is the Eagle Hills Hulhumalé Phase 3 Housing Project?

The Eagle Hills Hulhumalé Phase 3 housing project is a planned residential development intended to provide 5,000 housing units. The concept designs were shared publicly by Housing Minister Dr Abdulla Muththalib through a video posted on social media. The plans were prepared under the Hulhumalé Phase III Vision Masterplan by Singapore-based WOW Architects / Warner Wong Design.

The concept presents a modern neighbourhood built around a combination of housing, public spaces and facilities for residents. Rather than showing residential towers alone, the designs include waterfront townhouses, landscaped areas, sports facilities, cafés, restaurants, shops and places for relaxation.

A large waterfront mosque and spaces providing access to the sea are also featured in the reported vision. The proposed layout suggests an approach in which housing is planned alongside amenities that may help residents meet daily needs and access recreational spaces within their neighbourhood.

The development is planned for Hulhumalé Phase 3, an area that forms part of the wider urban development of the Greater Malé Region. Its proposed scale makes it an important project to monitor when assessing future housing supply, residential demand and the development of new urban communities in the Maldives.

Key Details of the Eagle Hills Housing Development

Developer: Eagle Hills, an Abu Dhabi-based development company.

Location: Hulhumalé Phase 3, Maldives.

Planned housing supply: 5,000 residential units.

Reported investment: Approximately US$400 million to US$500 million for the Hulhumalé housing development, according to One Online.

Design firm: WOW Architects / Warner Wong Design, based in Singapore.

Reported construction timeline: Construction is scheduled to begin in early 2027.

Related development: Eagle Hills' proposed Rasmalé waterfront and marina project.

These details are based on the news reports available on 10 October 2026. The investment estimate is a reported figure rather than a confirmed final construction cost. The actual scope, schedule and specifications may be clarified through future announcements.

What Will the Proposed Hulhumalé Development Include?

Residential Towers

Residential towers form a central part of the concept designs. High-rise housing can accommodate a substantial number of households within a defined urban area, making it a relevant development model in a country where land availability and housing affordability are important considerations.

The published designs illustrate modern residential buildings within a wider neighbourhood plan. However, the available reports do not provide a confirmed breakdown of apartment types, floor areas, bedroom configurations or the number of units in each building. Buyers should wait for official project information before making assumptions about the size, layout or suitability of individual homes.

Waterfront Townhouses and Access to the Sea

The concept also features waterfront townhouses, adding a different residential format to the planned development. Townhouses can provide an alternative to conventional apartments, although the reports do not confirm the number of townhouses, their dimensions or whether they will be available through a particular ownership or allocation scheme.

Waterfront planning is especially relevant in the Maldives, where access to the coast is an important part of the built environment. The designs include spaces intended to provide access to the sea, but specific public access arrangements, operating rules and detailed waterfront facilities have not yet been established in the reports.

Parks, Sports Facilities and Public Spaces

The planned neighbourhood includes public parks, sports facilities, shaded public squares and relaxation areas. These features are intended to provide opportunities for recreation and social interaction in addition to residential accommodation.

Well-designed public spaces can contribute to the attractiveness of a residential neighbourhood. Parks and recreational areas may provide places for families, children and other residents to spend time outside their homes, while sports facilities can support active lifestyles.

The final value of these amenities will depend on how they are designed, delivered and maintained. Their inclusion in concept plans is an indication of the intended vision, but it does not by itself confirm the final facilities, access arrangements or completion dates.

Shops, Cafés, Restaurants and Community Facilities

The proposed development also features shops, cafés and restaurants. Integrating commercial spaces into a residential neighbourhood can help residents access everyday services and may create opportunities for businesses serving the local community.

The reported plans include a large mosque near the waterfront, alongside other communal facilities. The overall concept therefore combines housing with spaces for shopping, dining, recreation and community activities.

For business owners and potential commercial tenants, the development is worth monitoring. Nevertheless, no confirmed retail leasing terms, commercial unit prices or application procedures are provided in the reports. Businesses interested in the project should rely on formal announcements before planning an investment.

How Much Is Eagle Hills Investing in Hulhumalé?

One Online reported that the Hulhumalé Phase 3 housing development is estimated to cost between US$400 million and US$500 million. The project is described as being developed at Eagle Hills' own expense.

This reported investment is separate from the wider proposed Rasmalé waterfront and marina development, for which the Government has signed a Commercial Terms Agreement with Eagle Hills. Maldives Media reports describe the broader Rasmalé project as a US$20 billion development and refer to an additional US$500 million commitment for 5,000 housing units of varying standards for Maldivian citizens.

These figures relate to different descriptions of the company's wider development plans and should not automatically be added together or treated as a single confirmed project budget. The scope and financial arrangements of each development need to be assessed separately as further information becomes available.

The reported plan to fund the Hulhumalé housing project directly through Eagle Hills is particularly relevant to the development's financing structure. However, detailed funding arrangements, construction contracts, disbursement schedules and other financial terms have not been set out in the two reports used for this article.

How Is Hulhumalé Phase 3 Connected to Rasmalé?

Eagle Hills' planned housing development in Hulhumalé is linked in the news reports to the company's wider investment ambitions in the Maldives. The proposed Rasmalé project is intended to develop a waterfront and marina destination with a much broader mix of residential, hospitality, commercial and public facilities.

One Online describes Rasmalé as a development involving the reclamation of Fushidhiggaru Falhu, located approximately a 20-minute speedboat journey from Malé. The reported masterplan covers around 1,100 hectares and includes proposed international hotels, resorts, premium residences, a marina, commercial hubs, entertainment services, educational institutions, healthcare facilities and wellness centres.

The wider plans are presented as a major development initiative with the potential to attract foreign investment and create employment opportunities. The Government has also connected the proposed development to wider economic and social objectives.

Despite these links, Hulhumalé Phase 3 and Rasmalé should not be treated as the same property development. They are distinct locations and development programmes, even though both feature in Eagle Hills' reported plans for the Maldives. Their timelines, funding arrangements, property offerings and implementation stages may differ.

What Could the Project Mean for the Maldives Property Market?

The planned addition of 5,000 housing units could become an important development in the Greater Malé Region's residential property market. Its eventual impact will depend on the number of units delivered, the types of homes offered, the prices charged and the level of demand among eligible buyers.

Potential Impact on Housing Supply

A large housing programme can increase the supply of homes available to households. If the planned units are completed and made available under terms that suit the intended buyers, the development could provide additional residential options in Hulhumalé.

However, the number of planned units alone does not establish whether the project will improve affordability. That assessment requires details such as selling prices, apartment sizes, eligibility requirements, financing conditions, allocation procedures and the timing of delivery.

Potential Opportunities for Property Investors

Investors following Maldives real estate may be interested in the development because of its proposed scale and location. New residential areas can influence demand for nearby services, retail businesses, property management and other supporting activities.

Nevertheless, the announcement of a large development should not be interpreted as a guarantee of capital appreciation or rental income. Investment outcomes depend on acquisition costs, financing, maintenance, market demand, applicable ownership rules and the availability of competing properties.

At present, the reports do not confirm individual unit prices, expected rental yields, resale conditions or a public booking date. Anyone considering an investment should seek verified information on these matters before making financial commitments.

Potential Benefits for Local Businesses

A neighbourhood with thousands of planned homes and supporting amenities could create demand for services such as groceries, food and beverage outlets, household goods, maintenance, transport and other everyday activities. Construction itself may also create demand for contractors, suppliers and skilled workers, subject to the project's actual implementation.

The scale of these opportunities will depend on the final development plan, construction schedule and arrangements for commercial premises. Businesses should monitor official announcements rather than assume that specific contracts or retail spaces are already available.

Will the Eagle Hills Housing Units Be Available for Sale?

The reports describe a plan to construct 5,000 housing units in Hulhumalé Phase 3, but they do not provide a confirmed public sales launch, unit price list or booking procedure. They also do not specify the eligibility criteria, financing arrangements or allocation process for the homes.

Prospective buyers should therefore distinguish between the announcement of a housing development and the formal release of properties for purchase. Concept designs show the intended architectural vision, but they are not equivalent to an approved sales brochure or a binding offer to sell a particular unit.

Before reserving a property, buyers should seek official documentation confirming the developer, project approvals, property specifications, total price, payment schedule, completion obligations, ownership arrangements and applicable terms and conditions. Where bank financing is required, buyers should also confirm eligibility and lending conditions directly with the relevant financial institution.

MaldivesInvestments.com will be able to provide a more detailed property guide when verified information on pricing, apartment configurations, booking arrangements and sales procedures becomes available.

What Buyers Should Watch for Next

As the planned early 2027 construction start approaches, several announcements will be important for prospective homeowners and people tracking the Maldives real estate market.

Official project specifications: Details of apartment layouts, floor areas, bedroom options and the number of units in each category.

Pricing and payment plans: Confirmed selling prices, deposit requirements, payment schedules and any applicable financing options.

Buyer eligibility: Formal criteria governing who can apply for the homes and how units will be allocated.

Construction updates: Confirmation of when work begins, progress against the stated schedule and any changes to the delivery timeline.

Infrastructure and amenities: More information on access, public spaces, utilities, transport links and the operation of community facilities.

Official sales channels: Verified contact details and procedures for obtaining information, submitting applications or making reservations.

These details will help buyers assess the development based on practical considerations rather than concept imagery alone. They will also help property professionals understand how the planned housing supply may fit into the wider market.

Eagle Hills Hulhumalé Phase 3: A Development to Monitor

The Eagle Hills Hulhumalé Phase 3 housing project represents a substantial planned addition to the Maldives' residential development pipeline. Its proposed 5,000 homes, residential towers, waterfront townhouses, parks, sports facilities and community amenities point to a neighbourhood concept that extends beyond housing alone.

The reported construction start in early 2027 makes the next phase of announcements particularly important. Information about final designs, approvals, unit prices, financing and allocation procedures will determine how prospective buyers can engage with the project and what it may mean for the local property market.

For the Maldives real estate sector, the project is worth following as part of the broader development of Hulhumalé and the Greater Malé Region. However, its ultimate impact on affordability, investment demand and the availability of homes will depend on implementation and the terms under which the units are delivered.

Buyers and investors should follow official updates and verify all material details before making decisions. As further confirmed information becomes available, the project can be assessed more clearly in terms of its opportunities, limitations and potential role in the future of housing in the Maldives.

Editorial note: This article is based on news reports published on 10 October 2026. Project descriptions, estimated costs and timelines are reported plans and may change. Readers should seek official confirmation before making property or investment decisions.