Eagle Hills, an Abu Dhabi-based private real estate investment and development company, is investing in the Maldives in full compliance with existing laws, and not a single inch of national territory will be sold to foreign entities, Hassan Zareer, the Minister of Finance and Public Enterprises, assured.
Appearing on the Public Service Media (PSM) News programme 'Raajje Miadhu', the minister addressed claims circulating on social media that the administration had decided to sell off the project site to foreign investors under the 'Maldives Waterfront and Marina' development in Rasmalé.
Developments constructed under the initiative will be allocated strictly on a leasehold basis, and legal ownership of all real assets will permanently remain with the Maldivian government, the finance minister elaborated.
“In no way is this a project conducted in a manner where any location, any territory, or even a single plot of land in the Maldives can be sold,” Minister Zareer asserted. “Our President, Dr Mohamed Muizzu, has pledged that not even a single square foot of Maldivian land will be sold. Therefore, that principle will always be upheld.”