Rasmale' Properties to Revert to State After 99 Years, President Says

President Dr. Mohamed Muizzu has clarified that properties developed under the Rasmale' project will revert to the state after 99 years, with full control remaining with the government. Speaking on "The False" podcast produced by the President's Office, Dr. Muizzu addressed opposition claims that the properties could be transferred to other parties after the lease period ends. The President stated that buyers of properties under the project will receive them for a 99-year term. After that period expires, the lease will not automatically renew, and the properties must be sold back to the state. Following their return to the government, only the Maldivian state will have full authority and control over selling the properties to other parties. If a property owner wishes to sell before the term ends, Dr. Muizzu said it can only be done through the government. He emphasized that ownership cannot be transferred to other parties without the government's knowledge, and that every transaction will generate revenue for both the state and the public. Drawing parallels with the country's resort lease system, the President pointed out that the same principle applies to resorts after their 99-year lease ends. In those cases, the government can either reclaim the property by compensating the investment made or offer an opportunity to extend the lease. President Muizzu noted that some political actors had attempted to obscure the facts regarding the Rasmale' project, but he shared these details to provide information to citizens who seek clarity with good intentions. The project is being developed by Eagle Hills of the UAE.