The Maldives government has reaffirmed that national land will remain under Maldivian ownership as Abu Dhabi-based real estate investment and development company Eagle Hills proceeds with plans for the Maldives Waterfront and Marina development in Ras Malé.
Minister of Finance and Public Enterprises Hassan Zareer said the Eagle Hills investment is being undertaken in full compliance with existing Maldivian laws, stressing that no part of the country’s territory will be sold to foreign entities. His remarks came during an appearance on Public Service Media’s “Raajje Miadhu” programme, where he addressed claims circulating on social media concerning ownership arrangements associated with the project.
Minister Zareer clarified that properties and developments created under the project will be made available strictly through leasehold arrangements. The underlying land and legal ownership of the national territory will remain with the Government of Maldives, ensuring that the development framework protects the country’s sovereignty while facilitating international investment.
“In no way is this a project conducted in a manner where any location, any territory, or even a single plot of land in the Maldives can be sold,” Zareer said. He added that President Dr Mohamed Muizzu’s commitment that Maldivian land will not be sold would continue to guide the government’s approach to the development.
The Maldives Waterfront and Marina is planned as a large-scale integrated destination in the Ras Malé area, bringing together international hotels and resorts, premium and branded residences, marina facilities and waterfront promenades alongside retail, dining, entertainment, education, healthcare and community infrastructure. The development is intended to complement the Maldives’ globally established resort industry while introducing a broader waterfront destination catering to visitors, residents and international investors.
A major hospitality component is expected to form part of the destination, with hotels and resorts designed around the Maldives’ internationally recognised island and ocean experience. Combined with marina infrastructure, premium accommodation and waterfront leisure facilities, the project is positioned to expand the range of tourism experiences available close to the Greater Malé region and attract additional segments of the international travel market.
Properties within the development are planned to operate under a long-term leasehold framework in accordance with Maldivian law, including lease terms of up to 99 years. The structure allows the project to attract international investment and long-term development capital while maintaining national ownership of the land.
The Ras Malé development forms part of the government’s wider effort to expand economic opportunities, strengthen the Maldives’ international investment profile and diversify the country’s tourism and real estate offering. With Eagle Hills bringing experience in developing major waterfront destinations internationally, the project is expected to add a new dimension to the Maldives’ tourism landscape while keeping ownership of Maldivian territory firmly under the state.
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