President Dr Mohamed Muizzu has ruled out holding a public referendum on the flagship Ras Malé land reclamation and urban development project, dismissing mounting criticism from opposition figures as baseless political rhetoric.
Responding to questions during a press conference today, President Muizzu rejected suggestions that the public should vote on the controversial multi-billion-dollar initiative under the Referendum Act, which empowers the head of state to seek public plebiscites on matters of significant national importance.
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Asked whether the administration would consider a vote given concerns over the long-term impact on future generations, the President stated firmly: “This is not something on which we will hold a referendum.”
President Muizzu defended the project’s legal and regulatory backing, arguing that relevant legislation fully accounts for national interests.
“This bill very clearly specifies that all these matters have taken into account our laws, existing frameworks, the protection of the rights of Maldivian citizens, and the preservation of the independence, integrity, and sovereignty of the Maldivian state,” he said, adding that “baseless claims are being made for political purposes” by the opposition.
The President’s comments coincided with the government’s formal submission of the Real Estate Business Bill to the People’s Majlis, sponsored on behalf of the administration by Henveiru North MP Ahmed Aifaan.
The proposed legislation seeks to establish a statutory framework to regulate property developers, govern transactions, and introduce buyer protection mechanisms across commercial and residential developments.
According to the bill’s objectives, the legislation aims to:
- Establish developer oversight: Institute mandatory registration criteria, formalise operational standards, and outline the legal rights and obligations of active property developers.
- Protect property buyers: Define safeguards to secure the financial and contractual interests of buyers purchasing units in real estate projects.
- Monitor market compliance: Introduce state monitoring mechanisms to ensure developers and commercial entities adhere to industry rules and statutory standards.
- Promote sector transparency: Create a transparent, accountable framework to sustainably develop and regulate the country’s expanding real estate market.
