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Former President Abdulla Yameen has criticized the government’s agreement with UAE-based Eagle Hills for the Ras Malé development, calling it an illegal deal that steals from the future of Maldivian citizens.
News Desk
Former president Yameen in a campaign rally - Photo: PNF
MALE: Former President Abdulla Yameen has strongly condemned the government’s agreement with UAE-based company Eagle Hills for the Ras Malé project, describing the deal as a theft of the Maldivian people’s future.
Speaking at a People’s National Front (PNF) gathering, Yameen urged any future administration not to uphold or honor what he characterized as an illegal contract.
“Because this is an illegal agreement, a future government will not be obligated to uphold it. Not at all,” Yameen stated, emphasizing that selling state land and national assets in this manner exceeds the government’s legal authority.
Under the agreement signed in Dubai by Minister of Housing Dr. Abdulla Muththalib and Eagle Hills chairman Mohamed Alabbar, 500 hectares out of the 1,100 hectares reclaimed at Ras Malé were handed over to the developer. In exchange for developing a waterfront marina and high-end tourism facilities under a 20 billion dollar investment, Eagle Hills will also construct 5,000 housing units in Hulhumalé under a contractor-finance model.
Yameen also questioned the project’s 15-year timeline, stating it is unrealistic to expect a private fund to invest 20 billion dollars without seeking returns for extended periods. He further criticized President Dr. Mohamed Muizzu for earlier denying rumors that land in Ras Malé would be allocated to foreign entities.
“He knew full well back then that he had decided to do this. Knowing that, he explicitly said it was a lie. Now Ras Malé has been handed over and sold off. This is a major disaster that has befallen the citizens,” Yameen declared.
The Ras Malé project, located at Fushidhiggaru Lagoon, remains the central cornerstone of President Dr. Mohamed Muizzu’s flagship campaign promise to deliver a permanent, “total solution” to the severe housing crisis in the Greater Malé Region. Reclaiming over 1,100 hectares of lan, nearly three times the combined size of Hulhumalé Phase 1 and Phase 2, the administration plans to build up to 65,000 housing units to ensure every eligible, landless Maldivian receives housing within his five-year term.
