Government to Retain Full Control Over Ras Male’ Properties, Assures President Muizzu 

Properties leased under the Ras Male’ development project will remain under the full control of the Maldivian government, with 99-year leaseholders required to sell the assets back to the state upon expiration, President Dr Mohamed Muizzu assured.

Speaking on the President’s Office podcast “The Pulse,” President Muizzu addressed public concerns and political claims surrounding the 99-year property leases executed with Eagle Hills, clarifying that buyers will not hold permanent ownership or automatic lease renewal rights.

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“The buyer purchases the property for 99 years, after which it must be sold back to the State,” the President said. “Full control remains with the Maldivian government. This is not an arrangement with automatic agreement renewals for another 99 years.”

The President emphasised that all transactions associated with the development will generate revenue and financial benefits for the State. He added that unlike previous developments, such as Hulhumale’, where infrastructure lagged behind residential settlement, the Ras Male’ project aims to establish necessary investments and infrastructure prior to residents moving into land plots and flats.

President Dr Mohamed Muizzu reassured citizens that all agreements related to the project will strictly adhere to national laws and regulations, promising that the administration will continue providing transparent information to address public queries.