PNC majority rejects resolution to disclose Rasmale agreement with Eagle Hills

The Maldives Parliament has rejected a resolution calling on the government to disclose all details of the Commercial Terms Agreement signed with UAE-based Eagle Hills for the "Maldives Waterfront and Marina" project under the Rasmale development. The resolution, submitted by Galolhu Dhekunu MP Mikail Ahmed Naseem, was voted down on Monday by a majority of 45 members from the ruling People's National Congress (PNC), while 10 members from the Maldivian Democratic Party (MDP) voted in favour. The resolution cited constitutional provisions including Article 250(h) on the disposal of state property, Article 251(h) prohibiting the ownership of Maldivian territory by foreign entities, Article 29 on freedom of information, and Article 70(ç)(3) which mandates Parliament to oversee the executive. It expressed concern over the lack of transparency regarding the agreement signed on September 21, noting that the government has not disclosed the commercial terms despite the project's scale. Specific concerns highlighted in the resolution included the failure to recover the cost of land reclamation for the state, the granting of over 500 hectares of land to Eagle Hills for 99 years without an acquisition fee or rent, and the company's right to sublease the developed properties to third parties. The resolution also pointed out that President Dr Mohamed Muizzu, during his Independence Day speech on July 26, 2024, had stated that Rasmale would never be leased or given away to any foreign entity, yet the agreement with Eagle Hills contradicts that assurance. The rejection of the resolution means the details of the agreement remain confidential, raising concerns among opposition members about potential corruption and loss of state assets.