This slip of an island up the east coast of Male atoll from the airport used to be called Mahureva and was an all-Italian resort for most of its life.
From what I gather, the resort will be uniquely green in concept, design and function. And, like Soneva Gili, the rooms will be mostly out in the lagoon. The company who are developing it are possibly the best operators in the Maldives, so expect an wonderful end product.