About this property
South Malé Atoll Sky Palms is a 45-unit apartment development in the fast-growing South Malé Atoll area, walking distance to Anantara Veli and Gulhi surf break. Designed by Yabu Pushelberg with a tropical-modern aesthetic, the project features ocean-view sky bar, in-residence dining, outdoor cinema, and Sun Siyam Group's professional rental-management program targeting 9–11% net yield. Owners receive 50-year leasehold from Ministry of Tourism title, transferable and inheritable. Sun Siyam Group handles booking, guest management, maintenance and tax reporting so owners can enjoy passive returns from day one.
Project details
| Developer | Sun Siyam Group |
|---|---|
| Property type | Apartment |
| Status | Under construction |
| Completion | Q2 2027 |
| Handover year | 2027 |
| Construction | 38% complete — Superstructure at 38%, MEP installation underway |
| Last update | Jun 15, 2026 |
| Bedrooms | 0-4 |
| Unit sizes | 60–224 m² |
| Total units | 38 across 5 unit types |
| Available now | 31 units |
| Starting price | $2.66M up to $8.37M |
| Payment plan | 15% down · 40% during build · 30% on handover · 36mo post-handover |
| Projected ROI | 7–9% net rental yield |
| Location | South Malé Atoll, Maldives — South Malé Atoll |
Unit types & prices
| Unit | Size | Bedrooms | Price | Available |
|---|---|---|---|---|
| Studio | 60 m² | Studio | $2.66M | 9 left |
| 1BR Suite | 114 m² | 1 BR | $4.90M | 2 left |
| 3BR Penthouse | 162 m² | 3 BR | $6.44M | 1 left |
| 3BR Sky | 186 m² | 3 BR | $8.07M | 9 left |
| 4BR Villa | 224 m² | 4 BR | $8.37M | 10 left |
Payment plan
💡 Flexible plan with milestone-based drawdowns during construction. Bank financing available up to 60% LTV via local mortgage partners.
Construction progress
Amenities
Location & neighborhood
Located in South Malé Atoll, Maldives, South Malé Atoll Sky Palms is walking distance to Anantara Veli and a short drive from Gulhi surf break. The neighbourhood is one of the most sought-after enclaves in the region, offering a rare mix of lifestyle amenities and long-term capital appreciation.
📍 South Malé Atoll Sky Palms, South Malé Atoll, Maldives
- Malé (capital) Center 25 km ≈ 40 min
- Malé Airport (MLE) Airport 26 km ≈ 42 min
- Hulhumalé Landmark 28 km ≈ 46 min
Distances are straight-line; drive times are estimated averages.
Similar projects
Early bird
Early bird
Just launched