About this property
Terraces at Bay is a 55-unit villa development in the fast-growing North Malé Atoll area, walking distance to Kurumba Island and Bandos house reef. Designed by SB Architects with a biophilic-contemporary aesthetic, the project features co-living amenities, helipad access, kids club, and Atmosphere Residences's professional rental-management program targeting 7–9% net yield. Owners receive 50-year leasehold from Ministry of Tourism title, transferable and inheritable. Atmosphere Residences handles booking, guest management, maintenance and tax reporting so owners can enjoy passive returns from day one.
Project details
| Developer | Atmosphere Residences |
|---|---|
| Property type | Villa |
| Status | Early bird |
| Completion | Q1 2028 |
| Handover year | 2028 |
| Construction | 15% complete — Foundations complete, ground-floor slabs in progress |
| Last update | Jun 15, 2026 |
| Bedrooms | 1-4 |
| Unit sizes | 97–235 m² |
| Total units | 34 across 5 unit types |
| Available now | 26 units |
| Starting price | $1.26M up to $3.81M |
| Payment plan | 25% down · 45% during build · 20% on handover · 36mo post-handover |
| Projected ROI | 6–8% net rental yield |
| Location | North Malé Atoll, Maldives — North Malé Atoll |
Unit types & prices
| Unit | Size | Bedrooms | Price | Available |
|---|---|---|---|---|
| 1BR Deluxe | 97 m² | 1 BR | $1.26M | 8 left |
| 1BR Suite | 111 m² | 1 BR | $1.99M | 4 left |
| 2BR Pool | 125 m² | 2 BR | $2.27M | 6 left |
| 3BR Sky | 137 m² | 3 BR | $3.33M | 8 left |
| 4BR Villa | 235 m² | 4 BR | $3.81M | Sold out |
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 North Malé Atoll, Maldives, Terraces at Bay is walking distance to Kurumba Island and a short drive from Bandos house reef. 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.
📍 Terraces at Bay, North Malé Atoll, Maldives
- Hulhumalé Landmark 6.6 km ≈ 15 min
- Malé Airport (MLE) Airport 8.2 km ≈ 18 min
- Malé (capital) Center 9.6 km ≈ 21 min
Distances are straight-line; drive times are estimated averages.
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