The government and Abu Dhabi-based Eagle Hills have signed commercial terms for a waterfront and marina project in RasMale valued at $20 billion.
The agreement covers development of waterfront areas and marina facilities on the reclaimed land. It forms part of broader arrangements under discussion for the island.
Details on the precise scope, phasing and financing structure beyond the headline figure have not been released. The signing was confirmed by state media.
The project sits alongside ongoing debate over land allocation terms on RasMale. No construction start date was announced with the commercial terms.
