President vows to share Eagle Hills agreement with Parliament

President Dr. Mohamed Muizzu has announced that the agreement for the Eagle Hills project in Ras Malé will be shared with the People's Majlis, promising full transparency over the $20 billion development. Speaking on "The Falls" podcast from the President's Office, the President said a special bill covering such projects will be submitted to Parliament, and that all matters related to the agreement will be forwarded to the relevant parliamentary committees. He stressed that the process will be carried out in a transparent and responsible manner within the system. The President also outlined restrictions on foreign property ownership, saying that no single nationality can be allocated more than 25 percent of the properties. He further stated that Israeli citizens will be prohibited by law from buying, selling, or renting any property within the project. "Especially Israeli people will not be there. Not just the Israeli passport, but in the way we will look at it, there are systems in place," the President said. Foreigners will also be clearly barred from obtaining Maldivian citizenship through the project, according to the President. Maldivians, however, will face no limits on buying property, with a 1,000 square foot property expected to be available for around $600,000 - a price within reach for those earning middle and upper-middle incomes. Reaffirming the Maldives' status as a 100 percent Islamic nation, the President said no religion other than Islam can be practiced in the country, and that all these conditions will be clearly visible in the bill and agreements submitted to Parliament. The agreement for the Ras Malé project was signed on September 21 by Housing Minister Dr. Abdulla Muththalib and Eagle Hills Chairman Mohamed Alabbar.