Dubai Family Office to Invest $8.8 Billion in Maldives Crypto Hub
The Maldives plans to establish a blockchain-focused financial hub, aiming to diversify its economy away from tourism and fisheries. Key points include:
- A Dubai-based family office, MBS Global Investments, will invest up to $8.8 billion over five years.
- The investment structure includes a joint venture with the Maldives government.
- Funding sources are equity and debt, with initial commitments exceeding $4 billion.
- The initiative aims to address external debt challenges facing the Maldives.
- The Maldives International Financial Centre will cover 830,000 square meters, support 6,500 residents, and create up to 16,000 jobs.
- The project positions the Maldives as a global financial free zone focused on blockchain and digital assets.
- MBS Global Investments manages $14 billion in assets and is linked to Qatari royal Sheikh Nayef bin Eid Al Thani.