Airport for private jets to be developed in Vaavu atoll

Mar 26, 2026, 5:52 AM
Photo: Google Earth

Photo: Google Earth

A special airport for private jets, named Aman International Private Airport, is being developed in Dhiggaru lagoon of Vaavu atoll.

The Vaavu jet airport is being developed by Global Ace Maldives, a joint venture between businessman Mohamed Ali Janah and two foreign companies.

Foreign holdings in Global Ace are AG East 2 DMCC and Sandstorm Collective. The Sandstorm Collective is believed to be linked to Aman Resorts, which is developing a resort in Fohtheyo lagoon of Vaavu atoll.

The Managing Director of Global Ace is the Chief Development Officer of Aman Resorts, Shan Tjio. The company's board consists of Tijo and Janah.

According to the EIA report, an area of ​​134 hectares will be reclaimed from the lagoon. All the sand for this project will be taken from the lagoon.

The previous government started searching for contractor to develop an airport in Dhigurah lagoon during the presidential election campaign in 2023.

This was first announced when former President Ibrahim Mohamed Solih visited Vaavu atoll for a campaign and announced the Aman Resorts project.

Comments

Read More

Latest News

Former Deputy Mayor and two others appointed to SOE boards

The Privatisation and Corporatisation Board has appointed former Deputy Mayor Mohamed Areesh and two others to the boards of state-owned enterprises. Areesh joins Maldives Post Limited, while Ismail Farhad Ahmed and Ahmed Imdah Mohamed were appointed to the medical supply corporation and STO, respectively.

Dhiraagu Gaming Conquest to begin on November 26

The Dhiraagu Maldives Gaming Conquest 2026 will take place from November 26-28 at Kalaafaanu School, featuring a MVR 150,000 prize pool. The event includes tournaments for PUBG Mobile and Rocket League alongside VR and racing simulators. It serves as the nation’s premier platform for local gamers to compete and showcase their talents.

Lease acquisition cost slashed in atolls with few resorts

The Tourism Ministry has slashed resort lease acquisition costs by 25% in five atolls to attract investors. While base rates and land premiums have been significantly reduced for the next two years, interest remains low. Many development projects in these regions continue to face delays or remain stalled despite the new financial incentives.

Malaysian company to build ice plants on 11 islands

The Maldives Fisheries Ministry has partnered with Malaysian firm Altus Oil & Gas to build ice plants on 11 islands. Each site will feature a 30-tonne plant and 50-tonne storage unit to support local fishermen. This project marks a shift from the government’s previous goal of reducing reliance on land-based facilities.

MS Finance license revoked over regulatory violations

The Maldives Monetary Authority revoked MS Finance’s money-changing license and issued a fine for regulatory violations. The firm is allegedly linked to a major money laundering case involving the Football Association of Maldives. This action is part of a broader government crackdown on the country's illegal foreign exchange market.

MIB to convene Extraordinary General Meeting

Maldives Islamic Bank will hold an Extraordinary General Meeting next month. Shareholders registered by October 26 are eligible to participate and vote in person or by proxy. Full details regarding the agenda and timing will be published on the bank's official website.

BML slashes equity to five percent for some housing loans

Bank of Maldives has reduced the equity requirement for housing loans under MVR 3 million from 20% to just 5%. The bank also lowered interest rates to 9.5% and removed additional collateral requirements for these loans. This change aims to make homeownership more affordable by easing the burden of large down payments.

Newsletter

Get the latest news delivered straight to your inbox