Atoll Estate Holding has inaugurated a project to develop the world's first luxury resort to rely on renewable energy in K.Thorimaraahuraa lagoon.
The company is registered on the Abu Dhabi Global Market.
The project, dubbed Project Delphine, is a large-scale multi-million dollar project. Under the project, fifty hectares of land will be dredged and reclaimed, and a coral planting program will be carried out in the lagoon.
Three islands will be built in the Thorimaraahuraa lagoon, and resorts will be developed on the islands. A yacht marina will also be constructed under the project. All facilities will be powered by renewable energy. The project is expected to reach completion in 2025.
The Thorimaraahuraa lagoon was first sold to the local fish company, Ensis, during the rule of former President Abdulla Yameen. The company then sold the lagoon to Atoll Estate Holding.