No Maldivian Land Sold to Eagle Hills Investors, Finance Minister Assures

Finance and Public Enterprises Minister Hassan Zareer has dismissed claims that the Maldivian government is selling national territory to foreign investors, asserting that the Eagle Hills investment project fully complies with existing laws. Speaking on the PSM News program 'Raajje Miadhu,' Minister Zareer addressed viral social media allegations suggesting that project sites for the 'Maldives Waterfront and Marina' development in Rasmalé were being sold off. He clarified that the administration has not, and will not, transfer ownership of land to any foreign entity. According to the Minister, all developments under the initiative are managed strictly on a leasehold basis. This legal framework ensures that the permanent ownership of all real assets remains with the Maldivian government, preventing any permanent loss of territory. "In no way is this a project conducted in a manner where any location, any territory, or even a single plot of land in the Maldives can be sold," Minister Zareer stated, emphasizing the administration's commitment to national sovereignty. He further noted that this policy aligns with a core pledge made by President Dr. Mohamed Muizzu, who vowed that not a single square foot of Maldivian land would be sold to foreign interests. The Minister reassured the public that this principle remains a non-negotiable pillar of the government's development strategy. Eagle Hills, an Abu Dhabi-based private real estate investment and development firm, continues to drive the Waterfront and Marina project as part of a broader effort to expand the infrastructure of the Greater Malé region while maintaining strict adherence to national land laws.