Maldives Housing Minister Says Rasmale Properties to Get Fresh 99-Year Lease on Each Sale, Contradicting President

Housing Minister Abdulla Muththalib stated tonight that every time a property in Rasmale is sold, the new buyer will receive a fresh 99-year lease, aligning with developer Eagle Hills' earlier announcement but appearing to contradict President Mohamed Muizzu's recent remarks. Speaking on a local program, Muththalib said the government would issue a new lease (a rental agreement) upon each sale of a Rasmale property. He clarified that the lease term cannot be extended beyond 99 years for the original buyer, but if the property is resold, the new owner gets a new 99-year lease. The minister did not explicitly confirm whether the second buyer also receives exactly 99 years. Muththalib also addressed the government's role in resales, stating that the state would act only as an intermediary — approving the buyer, charging a fee for the land, and then allowing the sale — rather than forcing the owner to sell back to the government. This contradicts President Muizzu's statement on Sunday, where he said that all Rasmale properties can only be sold to the government, which would then resell them. President Muizzu, speaking on the same program, had argued that investors buy properties for 99 years and must sell them back to the state when they wish to exit. Muththalib, however, insisted that the government simply facilitates the transfer, collecting a charge based on the property's value. The confusion arises amid the September 21 agreement signed by Muththalib to sell Rasmale to UAE-based Eagle Hills. The developer initially said the land is given for 99 years, but each time the property is sold or inherited, a new 99-year lease begins, effectively making the tenure perpetual for successive owners. The minister's latest remarks have deepened uncertainty about the actual terms of the Rasmale waterfront and marina project.