President Muizzu: Government to Set Prices for Eagle Hills' 5,000 Flats in Hulhumalé

President Dr. Mohamed Muizzu has announced that the government will determine the price of the 5,000 housing units being developed by UAE-based Eagle Hills in Hulhumalé Phase 3, under the Rasmalé project. Speaking on "The Falls" podcast by the President's Office, Muizzu stated that the allocation and pricing of the flats will be entirely under government control, and they will be offered at affordable rates similar to other state-run housing schemes in Hulhumalé. The flats will be exclusively for Maldivians, with priority given to first-time homebuyers, including youth, resort employees, fishermen, civil servants, and workers from various sectors. President Muizzu said that construction of the project is expected to begin within this year, and that the structural work will be completed by August 2028, with most finishing work done by then. Once the structure is completed, recipients will be able to register their flats. Muizzu also noted that a new law specifically for mega projects is being prepared for submission to Parliament. The law will ensure transparency in all processes and will guarantee that non-Islamic religious practices are not allowed in the Maldives, even with foreign investment. In addition to the 5,000 units from Eagle Hills, President Muizzu highlighted other housing projects in the Greater Malé Region, including the ongoing 4,000 units in Hulhumalé, 1,000 units through the private sector, and 4,000 units in Gulehfalu under India's Line of Credit. He expressed confidence that within the next two years, a total of 15,000 to 16,000 housing units will be delivered to citizens in the region.