Minister of Housing, Land and Urban Development Dr Abdulla Muthalib has said the Eagle Hills project in Ras Malé is not intended to create a foreign settlement.
Speaking on MMTV’s “Bodhu Khabaru” programme, Muthalib said the government places high priority on developing the real estate sector as one of President Dr Mohamed Muizzu’s efforts to diversify the economy. He described Ras Malé as the country’s largest capital asset and said selling properties there in a way that benefits the economy is consistent with government policy.
The minister noted that real estate projects worldwide are often carried out through long-term leases or freehold arrangements. Under the Maldivian Constitution, land cannot be owned by foreigners. The government has therefore decided to proceed on a leasehold basis that maximises returns to the state and the public.
Muthalib said the properties developed by Eagle Hills will function as holiday homes rather than places where foreign families permanently settle and raise children. He added that the project is structured so that no party can obtain a lease longer than 99 years, in line with constitutional limits.
The comments come amid ongoing public discussion about the Ras Malé development.
