A Dubai-based investment firm has announced a staggering $8.8 billion investment into the Maldives to build a massive crypto-focused financial center — a figure that exceeds the country’s total GDP.

The deal, unveiled this week, comes from MBS Global Investments, a family office that claims to manage around $14 billion in assets. The five-year project will be based in the capital city of Malé and aims to help the island nation overcome its escalating debt crisis.

Maldivian Finance Minister Mohamed Shafeeg Zameer told the Financial Times that the country must "move forward" and reduce its reliance on tourism and fishing — the nation’s two main industries.

He emphasized that the biggest issue is the looming debt repayments due over the next two years. Zameer said that crypto investments may be the tool to lift the nation out of its financial difficulties.

MBS Global Investments officially signed a joint venture agreement with the Maldivian government on Sunday. 

The plan is to build the Maldives International Financial Center, covering 830,000 square meters, housing 6,500 residents, and creating 16,000 jobs. The center will function as a crypto-financial zone, aiming to triple the Maldives’ GDP within four years and generate over $1 billion in revenue by the fifth year.

CEO of MBS, Nadeem Hussain, confirmed that commitments worth $4–5 billion have already been secured. He added that the firm has formed strategic alliances and secured the partners necessary to deliver on the financing. “It’s a large amount of money,” Hussain noted.

The office is backed by Sheikh Nayef bin Eid Al Thani, a Qatari national, who will leverage a network of family offices and wealthy individuals to raise the remaining funds. The firm plans to finance the crypto hub through a mix of equity and debt.

This announcement comes just months after India provided $760 million in financial assistance to help the Maldives avoid default. Still, the numbers remain grim. Moody’s Ratings warned of severe liquidity issues in December, citing $600–700 million in external debt payments this year and another $1 billion in 2026, including a $500 million sukuk, an Islamic financial instrument.

Zameer said both India and China have been key “development partners,” but this new deal with MBS is different. “With MBS, we’re going into business — this is a completely different model from traditional borrowing,” he said.

The country is now betting on its strengths — political stability, geographic location, and access to major markets like India and the Gulf states.

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