Israeli nationals will be barred by law from acquiring or buying property under the "Maldives Waterfront and Marina" project planned for Rasmalé, President Dr. Muizzu has said.
Responding to claims that the project, to be run by the UAE's Eagle Hills, could see foreigners settle there and weaken Maldivians' control, President Dr. Muizzu said on the President's Office programme "The Pulse" that Rasmalé will always remain under the full control of the government. He noted that the strongest interest in buying property there has come from GCC countries and Arab Islamic nations in the Middle East.
According to the President, although foreigners will be able to buy property under the project for 99 years, the properties will revert to the government once that period ends. Ownership also cannot be transferred to another party without the government's knowledge.
President Dr. Muizzu said the Maldivian Constitution will apply in the area, and no activities of any religion other than Islam will be permitted. He said the 500-hectare site will have mosques and Maldivian police services will be available there, and urged the public not to be swayed by false claims made by some for political gain.
Speaking on the same programme, the President also said a real estate law will be drafted shortly to cap, at a set percentage, the share of buyers from any single nationality in the US$20 billion project. Of the 1,150 hectares planned for reclamation at Rasmalé, 716 hectares have already been reclaimed, making it the largest island in the Maldives by land area.
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