President: Government retains full control of properties released under Rasmale project

President Dr. Mohamed Muizzu has stated that the government will retain full control of all properties released under the Egal Hills development project in Rasmale. Speaking on 'The Pulse' podcast, the President said properties under the project will be leased for 99 years, but lessees must sell the properties back to the government when the term expires, and the government holds full control throughout. The President said that unlike Hulhumalé, where investments only arrived after people began living there and with the bridge project, the Rasmale project aims to bring development and investment before handing over land and flats to citizens. He also noted that while there are genuine public concerns about the project, some parties are spreading misleading information for political purposes. President Muizzu assured that the government will provide complete information to citizens with genuine concerns and that no agreements related to the project will be made contrary to laws and regulations.