United Star Group (USG) initiates talks for Airport development in Maldives

14 Feb 2024 | 13:50
Leaders of United States Group and Wings Capital during the signing of MoU between them

In an interview to Voice yesterday in the Invest Maldives Forum, Nipuna Wahalathanthirige, Deputy CEO of United Stars Group (USG), provided insights into the group's significant initiatives in the Maldives.

USG, a prominent entity based in Abu Dhabi under the Al-Suwaidi family, particularly highlighted its subsidiary, Wings Capital management consultancy, and its ongoing negotiations for the development of six regional airports in the Maldives.

Key Points from the Interview include:

1. Airport Development: Wings Capital, a key player under USG, has engaged in negotiations with regional airports in the Maldives.

The group is committed to developing six airports, aiming to enhance the country's aviation infrastructure.

2. Special UTM System for Drone Transportation

This initiative involves the integration of Swedish technology, attracting interest from Swedish partners at the ongoing World Government Summit in Dubai.

3. Investments in Maldives: USG, through its subsidiary Wings Capital, is exploring diverse investments in the Maldives, including discussions with banks to establish developmental banks and negotiations with the President's office for funding housing and smart house developments in Addu City.

4. Health Sector Development: The interview highlighted USG's interest in contributing to the health sector, offering a health automation system to the Maldives.

This system aims to facilitate communication between islands and atolls, providing efficient health services, particularly beneficial for the tourism sector.

5. Innovative Financing for Housing Development: Wahalathanthirige emphasized USG's commitment to providing finance for housing development without burdening the government or requiring collateral.

The group has negotiated $100 million for the development of small smart houses in Addu City with drone ports on every balcony.

6. International Tourism Drone Festival: USG plans to collaborate with the Maldivian Tourism Ministry to host an International Tourism Drone Festival in Addu/Hulhumale on September 27.

This initiative aligns with the government's forward-thinking approach, creating opportunities for international investments and events.

7. Positive Government Engagement:  Wahalathanthirige praised the responsiveness of the Maldivian government, particularly Dr. Muizzu's administration, for being proactive and receptive to innovative proposals.

The deputy CEO expressed confidence in the win-win nature of their proposals and the government's commitment to providing a conducive platform for investors.

United Stars Group's active engagement in the Maldives signals a potential influx of investments and advancements in key sectors, fostering economic growth and innovation in the island nation.

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