Feydhoo Finolhu
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NewsNo direct response from Alabbar on land granted in perpetuity
Mohammed Alabbar declined to confirm if land for the Rasmale’ project was granted in perpetuity, stating his company will follow Maldivian law. While the government is waiving acquisition fees, Alabbar noted that lease terms must align with current regulations, though he acknowledged that laws can change over time.
NewsAlabbar in Maldives to brief ministers and lawmakers
Mohamed Alabbar of Eagle Hills is in the Maldives to brief officials on the $12 billion Rasmalé mega-city project. The development includes a waterfront and marina aimed at foreign residents. While the government views the project as vital for economic growth, critics warn it could lead to a permanent loss of territory to foreign interests.