President Muizzu: Israeli citizens legally barred from owning property in Rasmale

President Dr. Mohamed Muizzu has announced that Israeli citizens will be legally prohibited from acquiring or purchasing any property in the Rasmale development project. Speaking on 'The Pulse' podcast from the President's Office, he stated that the upcoming Real Estate Bill, to be submitted to the People's Majlis, will explicitly ban Israelis from buying or obtaining any land or property in the area. Properties in Rasmale are sold on a 99-year lease, after which they must be sold back to the Maldivian state. The President emphasized that full control and authority over the project remains with the Maldivian government. He also dismissed opposition claims that other religions would be allowed, confirming that only Islam will be practised, with mosques built but no facilities for other faiths. The project, developed by UAE-based Eagle Hills, will see 5,000 housing units (worth approximately $500 million) advanced to the state before construction begins. All proceeds from property sales will go into an escrow account in the Maldives under government control, helping to address the dollar shortage and strengthen official reserves. President Muizzu noted that the government had already banned Israeli passports and called opposition allegations baseless.