The Government's plans for Rasmalé bring together two key development priorities: providing a lasting solution to the country's housing challenges and creating economic opportunities through commercial development and job creation.
Rasmalé offers the largest available land area in the Maldives, with approximately 500 of its 1,000 hectares earmarked to meet essential public needs, particularly housing. The remaining half is intended for real estate development to generate sustained economic activity.
President Dr Mohamed Muizzu has expressed confidence that the project will not reduce the number of land plots or flats designated for residents, but instead deliver additional public benefits.
The Government also recognises the need to create employment and educational opportunities that encourage people to settle in Rasmalé, rather than relying on travel to Malé, approximately 20 minutes away.
Central to these efforts is the Maldives Waterfront and Marina project, which Eagle Hills is developing on the other half of Rasmalé.
Eagle Hills estimates that the project could generate 15,000 jobs and accommodate approximately 1,500 shops, with Maldivians receiving priority in operating the premises. Maintaining residential properties and other facilities is expected to create further employment and business opportunities.
Meanwhile, the Government faces substantial expenditure on the residential development, including constructing roads and establishing essential services after land reclamation.
Addressing questions about construction timelines, Mohamed Alabbar, Chairman of the company undertaking the development, explained that major projects typically require around 12 months of preparation before work begins.
This includes completing building designs, structural plans, air-conditioning and electrical systems, and other engineering requirements. However, Chairman Alabbar indicated that the company could begin work sooner, drawing on its previous experience.
He also addressed concerns that developing Rasmalé's two sections separately could divide communities and restrict residents' access across the island.
Chairman Alabbar assured that the company would follow the Government's direction, emphasising the importance of maintaining close connections with the public throughout the development.