The resort plans to open The Muraka villa, which will feature a bedroom five metres below sea with windows to allow guests to enjoy the sealife, in November.
The Muraka, which is costing $15 million to develop, will include an undersea suite with a king-size bedroom, living area and bathroom.
There will also be a spiral staircase leading to an upper-level living room above the sea including two further bedrooms and a relaxation deck with infinity pool.
Conrad Maldives Rangali Island already operates an all-glass underwater restaurant Ithaa, which opened in 2005 and is celebrating its 13th anniversary this month.
Stefano Ruzza, general manager of the resort, said: “Through our development of the world’s first undersea residence, we continue to shine a light on the Maldives as a luxury destination as well as a cultural and natural wonder for global travellers.
“We are excited to present Muraka’s unique sleeping under the sea experience to our future guests, providing them with an extraordinary seascape of the Maldives from an entirely new perspective.”
The Muraka, which means coral in the local Dhivehi language, will have accommodation for up to nine guests when it opens. Prices for the villa are still being finalised and will be released in “coming weeks”.
Ahmed Saleem, director of resort owner Crown Company and chief architect of The Muraka, added: “The world’s first undersea residence encourages guests to explore the Maldives from an entirely new perspective below the surface of the sea.
“The Muraka marks our second venture in underwater architecture and technology, next to Ithaa Undersea Restaurant.”