The Maldivian government has rejected claims by Eagle Hills chairman Mohamed Alabbar that the Rasmalé deal originated as a proposal from Maldivian authorities.
In a letter sent to Galolhu North MP Mohamed Ibrahim, State Minister for Housing Ahmed Nazim Mohamed said the commercial terms signed on 21 September were prepared under the private-sector initiated proposal framework of the State Finance Regulations.
Alabbar had told local media that the Maldives approached him and that he welcomed the opportunity. The government letter states the opposite sequence of events.
Other discrepancies between the two sides have also surfaced, including differing figures for the total investment value and the precise effect of the 99-year lease terms if properties are resold or inherited.
Housing Minister Abdulla Muththalib has previously indicated that land remains state property while buildings transfer subject to approval. Eagle Hills has described a system in which a new 99-year term begins upon transfer.