Eagle Hills Submitted Proposal for Ras Malé Waterfront and Marina, Government Confirms

The Ministry of Infrastructure Housing and Urban Development has confirmed that UAE-based developer Eagle Hills submitted the proposal to develop a waterfront and marina in Ras Malé under the Private Sector Initiated Proposal framework, in accordance with Public Finance Regulations.

In a written response to parliamentary questions submitted by Galolhu North MP Mohamed Ibrahim, the ministry stated that the Maldivian Government signed a Commercial Terms Agreement with Eagle Hills on 21 September 2026 for a major real estate development across 500 hectares of reclaimed land at Fushidhiggaru Falhu, designated as Ras Malé.

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The 500-hectare parcel, reclaimed using state funds, is set to be leased to the foreign developer for 99 years without charging any acquisition fee or land rent, according to official disclosures.

The ministry acknowledged that existing Maldivian legislation does not permit the proposed lease terms and stated that government authorities are currently working to enact new legislation to facilitate the deal. Efforts are also underway to execute the definitive, binding agreement by 11 November 2026.

The proposed arrangement has drawn sharp criticism from the main opposition Maldivian Democratic Party (MDP), which has called on the administration to publish the complete agreement and clarify its long-term tenure structure.

An emergency motion submitted to the People’s Majlis by opposition MP Meekail Ahmed Naseem called for full transparency, raising severe concerns over transferring publicly funded land without collecting an acquisition fee or rent, granting a 99-year tenure, and permitting the developer to issue perpetual or refreshed sub-leases to third-party buyers.

The motion further questioned whether the lease arrangement complies with constitutional provisions restricting the transfer or long-term alienation of Maldivian sovereign territory to foreign entities.

Separately, the Supreme Court Registrar declined to accept a constitutional petition filed by legal counsel and former Kendhoo MP Ali Hussain challenging the validity of the deal. The Registrar ruled that the matter could not be brought directly to the Supreme Court as a court of first instance, clarifying that the procedural rejection did not constitute a determination on the agreement’s constitutionality.

The commercial terms have also ignited fierce political debate, with former President Abdulla Yameen Abdul Gayoom urging Eagle Hills to abandon the project. However, Minister of Homeland Security, Labour and Technology Ali Ihusaan rejected Yameen’s criticisms, defending the project’s strategic economic importance to the country.