President: Rasmalé Properties on 99-Year Lease Must Be Resold to Government

President Dr. Mohamed Muizzu has stated that individuals who purchase properties under the Rasmalé development project, in partnership with UAE-based Eagle Hills, will receive them on a 99-year lease and that those properties must be resold to the Maldivian government, whether during the lease period or after it expires. Speaking on "The Pulses" programme, the President emphasised that the complete control of properties issued in Rasmalé will always remain with the Maldivian state. He clarified that if a buyer wishes to sell the property to another party before the 99-year term ends, they must sell it back to the government; only the state will have the authority to transfer ownership to a third party. The President said the main reason for undertaking such a large-scale project on part of the Rasmalé land was to provide housing for the people as quickly as possible. "Those who buy the properties developed through the Rasmalé investment are purchasing them for 99 years, and they will have to resell it to the government. Then the government, if it wishes to sell the properties to another party, will do so. The full control remains with the Maldivian state," the President said. He further noted that this is a crucial project that will turn the development of all of Rasmalé into a reality within a short period. Comparing it to the development of Hulhumalé, he said that before the Sinamalé Bridge was built, Hulhumalé lacked major investments and was seen only as a place to sleep. He said the government's approach to providing development to the people should not be that way. Responding to rumours that the Rasmalé project would bring Jewish settlements close to the Maldives, posing a danger, the President dismissed these claims as stories lacking any sincerity, aimed at creating fear in the hearts of the people and distorting reality for political purposes. Additionally, the President stated that no religion other than Islam would be allowed to practice in Rasmalé, and that no other religion would be permitted to be openly practiced anywhere in the country. Emphasising that maintaining the peace and interests of the Maldives is everyone's responsibility, the President said the government's main goal is to make the Maldives a proud country included in the list of the world's developed nations by the year 2040.