Housing Minister Abdulla Muththalib has made remarks that directly contradict President Mohamed Muizzu’s earlier assertion that properties developed in Rasmalé by the UAE’s Eagle Hills must be sold back to the government if owners wish to divest.
Muizzu made his comments on Tuesday during the state broadcaster PSM’s "The Pulse" program, stating that any buyer wishing to sell their Rasmalé property would be legally obligated to sell it only to the government.
However, Muththalib—who signed the commercial terms agreement with Eagle Hills for the Rasmalé development—clarified that the state would only act as an intermediary in such transactions.
"When a third party comes forward to buy a property, the state intervenes to verify whether the buyer is acceptable or meets the state's criteria. After intervening, approving, and charging a fee based on the land value and property assessment, the state will grant permission for the sale to proceed," he said in an interview with the state-aligned MMTV last night.
But Muizzu was explicit in stating that property owners could only sell back to the government. He did not mention the state playing a facilitating or intermediary role.
"The properties developed through this investment are purchased for a 99-year leasehold. If the owner wishes to sell, they must sell it back to the government. It returns to the state. If the government then chooses to sell it to another party, it will do so," the President said.
"Since this is a 99-year lease, if someone wishes to sell before the term expires, they sell to the government. The government then retains the right to transfer that ownership to another party."
While the government maintains that the land is being leased to Eagle Hills for 99 years, Eagle Hills has stated that if a property in Rasmalé is sold or gifted before the initial 99-year term expires, a fresh 99-year lease period will commence.
"Properties will be leased for 99 years under Maldivian law. If the rights to these properties are sold or inherited, a new 99-year lease term will begin. This ensures that the properties remain with the buyers across multiple generations," Eagle Hills stated.
