Former Chairperson of the opposition Maldivian Democratic Party (MDP) Fayyaz Ismail has called on the government to disclose the agreement made to hand over Rasmalé to the UAE-based Eagle Hills company and to address growing concerns regarding the potential for foreign ownership of the land.
In a statement released in English, Fayyaz highlighted several concerns regarding the Rasmalé project. He alleged a lack of transparency in the awarding of the project and claimed the agreement was structured in a manner that would result in financial losses for the Maldives.
In his statement, Fayyaz urged the government to take five actions:
- Disclose the full details of the agreement.
- Address questions regarding the potential for permanent land ownership.
- Conduct an evaluation of the 500 hectares of land being granted to Eagle Hills.
- Explain why the Maldives entered into a weaker agreement compared to those Eagle Hills has signed with other nations.
- Ensure the project does not proceed until all surrounding details are fully disclosed.
Fayyaz expressed particular concern over a clause stating that if properties in Rasmalé are sold or inherited before the 99-year lease expires, a new 99-year lease term begins.
"This could result in the leased land being permanently lost to Maldivians. In reality, such an arrangement constitutes a freehold agreement," Fayyaz stated.
Out of the 1,100 hectares to be reclaimed for Rasmalé, 500 hectares have been allocated to Eagle Hills. The company has already begun marketing apartments on the island, targeting wealthy foreign tycoons with the promise of permanent residency.
The secret agreement to hand over Rasmalé to Eagle Hills was signed last Monday. While the government has withheld the document, officials have maintained that the land was leased for 99 years. The land was granted entirely free of charge, with no lease acquisition cost or rent.
