MDP seeks disclosure of Eagle Hills agreement on Ras Malé project
Among the concerns raised by Meekail was that the government has not publicly disclosed the full details of the agreement signed with Eagle Hills.
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The opposition Maldivian Democratic Party (MDP) parliamentary group has submitted an emergency motion to Parliament raising concerns over the government’s agreement with UAE-based developer Eagle Hills for the Ras Malé project and calling for the full terms of the agreement to be disclosed.
The motion was submitted on Monday by South Galolhu MP Meekail Ahmed Naseem as Parliament resumed sittings following its recess. Parliament’s third session of the year began on 5 October after the second session ended on 26 August.
Presenting the motion, Meekail said Ras Malé was a major national asset linked to the Maldives’ future development, but argued that there were concerns over the manner in which the government was proceeding with the project.
Among the concerns raised by Meekail was that the government has not publicly disclosed the full details of the agreement signed with Eagle Hills.
He also questioned the terms under which more than 500 hectares of reclaimed land are to be allocated to the developer for 99 years. Meekail alleged that the agreement had been structured without requiring Eagle Hills to pay an acquisition cost or rent for the land and that the company would have the right to create leasehold interests for third parties.
The full agreement has not been made public. Public statements about the project indicate that the government and Eagle Hills signed a Commercial Terms Agreement on 21 September, with detailed terms to be developed as the project progresses. Eagle Hills has said properties within the development would be offered under a leasehold framework of up to 99 years, with a new lease term beginning upon a sale or inheritance.
“Keeping an agreement for a project of this scale secret could cause significant losses to state assets and finances and create opportunities for corruption,” Meekail said.
He called on the government to disclose the full details of the agreement, saying the project directly concerns the public interest.
The emergency motion was accepted for debate with the support of 53 MPs, including members of the ruling People’s National Congress (PNC).
The government has rejected claims that the Ras Malé land is being sold to a foreign company. President Mohamed Muizzu has said the land would remain under Maldivian ownership and would only be leased, while stating that no sovereign guarantee, government loan, tax exemption or duty exemption had been provided for the project.
Attorney General Ahmed Usham has also said the government would not take any action that violates the Constitution or Maldivian law. According to Usham, the document signed so far sets out the commercial terms of the project, while further agreements and relevant legislation will be required before implementation.
The Maldives government and Eagle Hills signed the agreement on 21 September for the Maldives Waterfront and Marina development at Ras Malé. The project is planned as an integrated development comprising hotels and resorts, residences, a marina, retail and dining outlets, and other facilities. Eagle Hills has put the envisaged investment across the project’s phases at about USD 12 billion.
A constitutional case challenging the agreement was also filed with the Supreme Court last week by lawyer and former MP Ali Hussain. The petition argues that the proposed 99-year arrangement involving more than 500 hectares of reclaimed land conflicts with constitutional provisions governing state property and foreign interests in Maldivian land.
