ADK Company on Wednesday signed an agreement with Turkish hotel giant Caprice Gold to develop the Maldives' first Islamic resort.
Caprice Gold, renowned for Islamic tourism, will invest $170 million on the resort, which is nearing completion. The resort is expected to become operational in October.
Speaking after the signing ceremony, Nashid said the resort being developed in two phases will be the largest resort in the Maldives and the first Islamic resort. Although the concept of Islamic tourism is new to the Maldives, the model will be a success, he added.
"We saw the hotel being operated by Caprice Gold in Turkey. They operate the place under this concept, but the occupancy is really good. That's why I'm extremely confident that the company can make this concept a success [in the Maldives as well]," Nashid said.
"This resort will become a holiday destination for Muslims throughout the world."
ADK started developing the resort, which is a 50-minute seaplane ride from the airport, in 2007. The company entered an agreement with Akarsu Group from Turkey in 2012, but was annulled soon after.
Nashid said funds and equipment have already been received from his new Turkish partner.
"After a lot of work, it's finally coming to an end. This has been my dream," he added.
Similar to the Caprice Gold's hotel in Turkey, the resort in Gaakoshibee will have a separate beach, villas and swimming pools for male and female tourists. The resort will not serve alcohol and pork, and its four restaurants will have halal certified buffets.
Akgunduz said the company will register its own airline in the Maldives in order to carry passengers to and from the resort.