Bahrain’s Gulf Hotels Group (GHG) has confirmed plans for its first venture into the Indian Ocean, signing a Memorandum of Understanding with Maldivian firm Keiretsu Pvt Ltd to develop a luxury island resort in Kaafu Atoll. The agreement, signed in Bahrain, marks a significant expansion of GHG’s international footprint and its long-standing owner-operator model.
A Strategic First Step Into the Maldives
The proposed resort will sit within a private lagoon roughly 15 to 25 minutes by speedboat from Velana International Airport, a location chosen to balance seclusion with accessibility. Kaafu Atoll is among the Maldives’ most established tourism regions, and the site’s proximity to the international gateway is expected to be a key draw for the project.
The MoU lays the groundwork for a long-term strategic partnership, pairing GHG’s owner-operator expertise with Keiretsu’s established local experience in Maldivian project development. Both companies have framed the agreement as more than a transactional deal, describing it instead as the foundation for sustained collaboration.
Executives Weigh In
Speaking on the new partnership, GHG’s CEO, Ahmed Janahi, said: “This project marks an important step in Gulf Hotels Group’s growth journey as we expand beyond our traditional markets and establish a presence in the Indian Ocean region for the first time. The Maldives is one of the world’s most recognised tourism destinations, offering strong long-term fundamentals and a reputation for exceptional hospitality experiences.“
“The signing of the Memorandum of Understanding marks an important milestone in bringing this vision to life. We look forward to working closely with our partners to advance the project and create a hospitality asset that contributes positively to the Maldives’ tourism sector while supporting the Group’s long-term growth objectives,” Janahi added.
Keiretsu’s founder, Sofwan Ahmed, echoed that sentiment, saying, “The Memorandum of Understanding reflects our shared confidence in the potential of this project and establishes the foundation for a long-term partnership. By combining Gulf Hotels Group’s international owner-operator expertise with Keiretsu’s local experience in project development in the Maldives, we are well positioned to deliver a luxury destination that meets the highest international standards while celebrating the unique character and natural beauty of the Maldives.“
“We look forward to working closely with Gulf Hotels Group as we move into the next phase of the project and create a resort that contributes to the continued growth of the Maldives’ tourism industry while delivering lasting value for the destination and all stakeholders.“
What the Resort Will Offer
Designed as a single-island luxury destination, the development is planned to include a mix of beachfront and overwater villas, each with a private pool, alongside restaurants, lounges, wellness facilities, and dedicated event spaces. The property is also expected to carry the affiliation of a globally recognised luxury hospitality brand, though further details are pending completion of formal agreements and regulatory approvals.
Under the proposed structure, GHG and Keiretsu intend to form a joint venture, with GHG acting as both equity investor and operator, while Keiretsu takes the lead on local regulatory and implementation matters. This mirrors a broader pattern in the region: developers from the Gulf have increasingly looked to the Maldives for their first overseas hospitality ventures, drawn by the destination’s premium positioning and steady visitor growth.
Part of a Wider Growth Push
With more than 50 years in hospitality and a portfolio spanning Bahrain, the UAE, and Africa, GHG has positioned the Maldives project as a natural extension of its regional ambitions. The move comes as the Maldives continues to attract significant international investment, with several major operators expanding their presence in the market over the past year.
READ MORE: Gulf Hotels Group Expands into Saudi Arabia Amid Strong 2025 Results
