Eagle Hills 'does not appear capable of investing $20 billion': Former MP Ahmed Essa

Former Kendhikulhudhoo constituency MP Ahmed Essa has cast doubt on the financial capability of Eagle Hills, the company entrusted with the Rasmalé project, saying it does not appear to be a company capable of investing $20 billion. Speaking on RaajjeTV's special coverage 'Dhivehinnge Bin Dhivehinna', Essa said Eagle Hills is not among Dubai's major companies, and that its track record abroad raises questions about whether it can deliver the Rasmalé project. He pointed to projects in Serbia, Albania and Georgia, saying many signed years ago remain incomplete. According to Essa, Eagle Hills signed a $3 billion investment agreement for a property project in Serbia in 2015, yet ten years on, the project has not reached 50 percent completion, with only $150 million invested. In Albania, he said the company signed a $2 billion project agreement, but the project remains unfinished, and he alleged $60 million was wasted through the advance sale of properties before construction. He also said a project signed in Georgia in 2025 has shown no progress. Essa questioned the benefit such a project would bring to the Maldives, saying projects the company has started in other countries have become burdens on their citizens.