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Minister of Construction and Infrastructure Dr. Abdulla Muththalib in cabinet - Photo: President Office

MALE : Minister of Construction and Infrastructure Dr. Abdulla Muththalib today clarified that buyers purchasing properties under the 20 billion dollar Ras Malé waterfront project will not own the underlying land.

Addressing public criticisms alleging that land is being sold to foreign entities, Minister Muththalib stated on social media platform X that property owners will only hold ownership over the building or physical unit, while land ownership stays with the Maldivian state.

“There will be no transfer of ownership or freehold whatsoever here. Just as Maldivian laws and regulations apply in every resort in the Maldives today, at all times during this project and in every place of development, Maldivian law will apply,” the Minister affirmed.

He added that transfers or sales of these properties require explicit government approval and payment of applicable state fees.

Clarifying terms outlined in press releases by UAE-based developer Eagle Hills regarding 99-year leasehold structures and inheritance, the Minister noted that automatic inheritance without regulatory clearance is inaccurate. He emphasized that acquiring property does not grant buyers or their families automatic residency or visas, explaining that all visa decisions remain strictly under the jurisdiction of Maldives Immigration.

Minister Muththalib stressed that long-term development initiatives are vital to strengthening national sovereignty, enhancing state wealth, and building economic resilience without compromising independence. Under the signed agreement, Eagle Hills will also invest 500 million dollars to build 5,000 housing units in Hulhumalé, with the entire development expected to generate over 18 billion dollars in net investment and create 54,000 local jobs.