Eagle Hills, the UAE-based developer awarded the Rasmalé project, has amended a press release regarding the development's land tenure and ownership terms.
While the government maintains that Rasmalé land is being leased for 99 years, Eagle Hills had initially stated that all properties within the project would be transferable and inheritable, with each transaction triggering a fresh 99-year lease term.
The amendment concerns a press release issued on September 21, the day the project agreement was signed. The company modified the section stating that land would be granted for 99 years and that a new 99-year lease period would commence with every transfer of ownership.
However, Eagle Hills has since revised that portion of the statement. The clause stipulating that a new 99-year lease term would be initiated upon the sale or inheritance of a Rasmalé property has now been removed.
The removal of this clause follows a public outcry after concerns were raised that the agreement effectively prevented the land from ever reverting to Maldivian control. In response to the growing public concern, Housing Minister Abdulla Muththalib, who signed the Rasmalé agreement on behalf of the Maldivian government, addressed the matter.
"The purchaser of a Rasmalé property owns the property itself. The land on which the property is situated remains the property of the Maldivian state. If the property is sold or inherited upon the owner's death, such transfer will only occur upon approval following the necessary state due diligence," he said.
