President Dr Mohamed Muizzu has announced that the full agreement for the Eagle Hills development in Ras Malé will be submitted to the relevant committee of the People’s Majlis, while the proposed Real Estate Bill will be opened for public consultation before becoming law.
Speaking on PSM’s “Nation Chat” programme, President Muizzu said the government was committed to transparency and protecting national interests throughout the major development project undertaken by Abu Dhabi-based Eagle Hills.
The President stressed that Parliament represents the Maldivian people and that sharing the agreement with elected lawmakers would ensure public accountability.
Addressing concerns over foreign property ownership, President Muizzu clarified that Maldivian citizens would face no restrictions on purchasing properties within the development.
However, he said the proposed legislation would limit property sales to nationals of any single foreign country to a maximum of 25 percent, preventing excessive concentration of ownership among foreign buyers.
The President also reaffirmed that Israeli nationals and Zionist entities would not be permitted to benefit from opportunities in the Maldives, in line with the government’s stated policy.
He noted that the Ras Malé development had attracted considerable interest from investors in Arab and Islamic countries, particularly those seeking property in a peaceful Muslim nation.
Responding to concerns about the project’s cultural and religious implications, President Muizzu assured the public that Ras Malé would remain fully subject to Maldivian laws and sovereignty.
He said regulations governing the development would be stricter than those applicable to tourist resorts, with alcohol and pork prohibited, mosques established and the Islamic call to prayer broadcast five times daily.
The President further confirmed that educational institutions would follow Maldivian standards, with no schools operating under foreign control. Services during Ramadan would also be regulated in accordance with existing rules applicable to guesthouses and similar establishments.
Addressing criticism surrounding the development, President Muizzu suggested that some negative narratives were politically motivated. He welcomed constructive criticism while rejecting what he described as misinformation intended to mislead the public.
The President also reiterated his condemnation of Israel’s actions against Palestinians, maintaining that his administration would not facilitate opportunities for Israel in the Maldives or support such activities elsewhere.
He assured citizens that the Ras Malé project would proceed under the authority of the Maldivian state, with the proposed legal framework and parliamentary oversight intended to address concerns surrounding foreign investment, property ownership and national sovereignty.
