Maldives Government to Submit Real Estate Bill for Male' Land Sale to Eagle Hills

The Maldives government has decided to submit a Real Estate Bill to the People's Majlis to establish a legal framework for the sale of land to Eagle Hills of the UAE for the development of Fulhudhigaruveli, also known as Malé. Housing Minister Abdullah Muttalib confirmed that properties under this project will be sold on a 99-year basis, with a mechanism to renew the lease upon payment of a fee. State Minister Ahmed Nazim Mohamed has alleged that India and certain parties in the local tourism sector are working to halt the project. The Ministry of Housing has also opened the sale of 48 state-owned plots in Malé at 2,000 Rufiyaa per square foot, and an Auditor General's report revealed that land filling for Phase Three of Hulhumalé has been entrusted to MAAL (Maldives Airports Company Limited), with land provided as compensation.