The Government has issued the country’s first permit to develop a Sustainable Township under the Special Economic Zones Act.
The Board of Investments granted the permit to Crystal Holdings Pvt Ltd after approving its application at its tenth sitting of 2025. The project carries an investment of over USD 790 million.
The township will include luxury hospitality, residential spaces, a major healthcare facility, an international hospitality and leadership school, and a dedicated island for advanced agriculture and aquaculture. The project will run on at least 60% renewable energy.
The development is expected to open in 2028. It will create high-value jobs, attract long-stay visitors, strengthen food security, and diversify economic activity.
The Government says the permit reflects its commitment to future-focused and sustainable investments.
Economic Minister Mohamed Saeed wrote on X that the milestone supports President Dr. Mohamed Muizzu’s vision for innovative, resilient, and diversified national growth.
