President Muizzu announces public consultation window for Real Estate Bill ahead of Eagle Hills project

President Dr. Mohamed Muizzu has announced that the public will be given a two-week window to submit opinions on the Real Estate Bill, which the government says must be enacted before signing the agreement for the Eagle Hills project in Malé. Speaking on PSM's 'Nation Chat' podcast, Muizzu said that once the bill is sent to the People's Majlis, it will be made available to the public for consultation. He estimated the consultation period would be around two or three weeks. The government has stated that it will not sign the agreement with Eagle Hills, the UAE-based developer, unless the law is passed. However, the bill has not yet been submitted to the Majlis. Vice President Ahmed Usham has explained that the legislation is designed to regulate such projects not only in Malé but across the entire country. He noted that if the project were carried out under the Tourism Act, the government would have to compensate the investor with the value of the buildings upon expiration of the term. President Muizzu denied claims that the Malé project proceedings are being conducted secretly, stating that the full agreement will be sent to a standing committee of the Majlis. He described this approach as the most appropriate for a responsible government. He also alleged that opposition parties are making statements against the Eagle Hills project without sincerity, calling them baseless political statements made to halt the project and frighten the public. The announcement comes amid ongoing concerns about the project's transparency. Motions and urgent questions submitted by opposition members to obtain information about the project have been rejected by the Majlis. When a member requested sharing the Commercial Terms agreement, Housing Minister Mutalib stated that the main terms have already been made public and opposed sharing further details.