Attorney General (AG) Ahmed Usham said today that the preliminary agreement to grant 500 hectares of Rasmalé to UAE-based Eagle Hills contains no provisions that contravene the Constitution.
Responding to an inquiry from Adhadhu, Usham noted that in his capacity as Attorney General, he had provided legal counsel to the Ministry of Housing regarding the agreement prior to its signing on September 21.
Usham affirmed that the agreement does not violate the Constitution, though he noted that he had instructed certain modifications to be made to the document.
"The [legal advice] outlines specific areas of the agreement that require changes. There is actually nothing in the agreement that is unconstitutional... The advice covers numerous points. Naturally, when reviewing such an agreement, there will be many aspects that need to be amended," Usham said.
The government has allocated the land in Rasmalé without charging a land acquisition fee or ground rent. Instead, the state will receive a 10 percent fee from the developer’s initial sale of properties, along with a four percent fee paid by the buyer. A four percent fee will also be levied on every subsequent transfer of ownership.
While the government claimed that the land in Rasmalé was leased for 99 years, the framework of the agreement suggests a permanent loss of state control. Eagle Hills has confirmed that whenever a property owner in Rasmalé sells their unit, a new 99-year lease term begins. Similarly, if the property is gifted, a fresh 99-year lease period commences.
The reclamation of Rasmalé was launched under the premise that it would be a project dedicated exclusively to housing for Maldivians. President Mohamed Muizzu had personally pledged that no part of Rasmalé would be leased to foreign parties.
"Every grain of sand reclaimed there [in Rasmalé] belongs to the Maldivian people. Not a single piece of land will be leased or given for free to any foreign entity, not even for a single day," Muizzu had previously stated.
