Air Chateau DWC, a Dubai-based helicopter and vertiport operator, Regional Airports Company Limited (RACL), a state owned company of the Republic of Maldives, and Wings Capital Management Consultancies of Abu Dhabi, United Arab Emirates, have signed a memorandum of understanding aiming to create a collaborative partnership and roll out VVIP and HNWI air taxi operations, commercial cargo and passenger operations with eVTOLs and advanced air mobility infrastructure across the Maldives as under the Elevate Maldives project, enabling island air mobility for drones and vertical takeoff and landing (VTOL) aircraft operations.

To implement the proposed project, Regional Airports Company Limited, a government entity responsible for domestic airport operations, along with Air Chateau, a Dubai-based helicopter operator, and Wings Capital Management as project management facilitator, intend to establish a public-private partnership. Through this partnership, Air Chateau will develop a network of vertiports and droneports to connect over 1,200 islands across the Maldives.

The Invest Maldives Forum, which kicked off in Dubai earlier this year under the gracious presence of Maldivian President Dr. Mohamed Muizzu and reputed leaders of UAE, gathered huge interest from companies and investors across the world to invest in the Maldives.

Nipuna Wahalathanthrige, group CEO, Wings Capital Management, Dubai, UAE, underscored the south Asian region's unique potential for competitive growth and innovation driven by advanced technology and strategic management. As the key project management facilitator of this proposed project, Wings Capital Management is committed to making this initiative a success. Mr. Wahalathanthrige further emphasised the keen interest from foreign investors for projects in the Maldives and noted that the active stance of the current government in attracting investment opportunities was a great help in making this proposed project a success. He noted that the government's acceptance of the efficient and safe strategic investment plans presented by foreign investors has strengthened the confidence of investors and thus contributes significantly to the overall economic growth of the Maldives.

Managing director of RACL, Ahamed Mubeen, states that the company currently operates eight airports across various regions of the Maldives and aims to expand this number to 15 in the near future, aligned with ongoing government planning initiatives. “This unique opportunity positions us as an ideal partner for investors in the aviation sector. We are pleased to establish this understanding with globally recognised firms like Wings Capital Management and Air Chateau,” he states. He further emphasised RACL's potential investment prospects in tourism, green energy and innovative airport operation models.

In an island spanning for about 180 nm from the capital city of Male towards northern and southern parts of the island, Air Chateau will receive the rights to operate from RACL and state privileges to operate helicopters and eVTOLs in the Maldives for 20 years. The company will also be responsible for attracting foreign direct investment in the project.

“We are thrilled to embark on this transformative project with Regional Airports Company Limited,” remarks Dr. Samir Mohammed, chairman of Air Chateau. “The Maldives presents a unique opportunity for us, especially within the tourism and mobility sectors. With a total addressable market for air tourism transfers estimated at around half a billion dollars annually, the Maldives exemplifies the potential for island air mobility (IAM), similar to regional air mobility (RAM) and urban air mobility (UAM). Our helicopters and future eVTOL operations will simply complement the existing transportation modes, creating a synergistic and convenient hub-and-spoke system. Together, we are pioneering advancements in the advanced air mobility (AAM) market across the region, fostering growth in business, infrastructure and technology. Future eVTOLs would essentially complement and not compete with other fleet modes in a hub-and-spoke setting. Together, we are breaking new frontiers in the development of the advanced air mobility (AAM) market across the region in enhancing business, infrastructure and technology.”

The project aims to establish up to 100 hybrid vertiports across 1,200 islands, featuring touch down and lift-off (TLOF) areas, final approach and take-off (FATO) zones, safety zones, terminal waiting halls, and charging and fire-retardant infrastructure. Additionally, the project envisions the development of 500 drone ports dedicated to cargo operations, supporting first-, middle- and last-mile logistics, all equipped with charging stations and fire-retardant systems. The Elevate Maldives project has been identified to be aligned with the UN sustainable development goals and carbon credits.

The project is also expected to boost Maldivian talent and job creation and spur the development of new advanced mobility services and businesses in the region.