President Dr Mohamed Muizzu has assured that the Eagle Hills Ras Male’ project will comply with the Constitution and existing laws.
The government has officially signed a landmark Commercial Terms Agreement with Abu Dhabi-based private developer Eagle Hills to launch the "Maldives Waterfront and Marina” project. Set for development in the Ras Male’ area, the multi-phased integrated island destination represents an envisioned USD 20 billion investment, making it the most ambitious development initiative in the history of the Maldives.
Speaking on PSM’s Nation Chat programme, the President said politically motivated claims are obscuring the vision behind the Ras Male’ project. The purpose of such claims is to hinder major projects that are beneficial to the people, he said, adding that such claims come from those who do not put their nation first. He criticised politicians who put political considerations ahead of what benefits the country.
The President rejected claims of land sales and special concessions under the Ras Male’ project, and said the agreement with Eagle Hills will not contain any clauses illegal or contrary to the Constitution. He said the project involves leasing, rather than transferring into private ownership. He said the agreement does not provide sovereign guarantees, government loans, tax concessions or duty exemptions.
The President said the government’s broader vision for Ras Male’ remains unchanged despite the Eagle Hills project. He said the project will contribute to economic, infrastructure and social development, increase GDP and benefit the public.