Dubai Family Office to Invest $8.8B to Turn the Maldives Into a Blockchain Hub
A Qatari royal family office, led by Sheikh Nayef bin Eid Al Thani, will finance an $8.8 billion blockchain and digital assets project in the Maldives, surpassing the nation's annual GDP of $7 billion. The initiative, managed by MBS Global Investments, aims to diversify the Maldives' economy, which heavily relies on tourism and fishing, amid rising debt obligations of $600-$700 million due this year and $1 billion due in 2026. The project includes constructing an International Financial Centre covering 830,000 square meters, expected to create 16,000 jobs, representing about 3% of the national workforce. MBS Global Investments has secured $4 to $5 billion for the project through a consortium of family offices and high-net-worth individuals. The Maldives currently lacks a significant crypto industry but is seeking to enhance its digital finance landscape while courting development partnerships with India and China.
