President Dr. Mohamed Muizzu has given the assurance that no obstacles will hinder the massive USD 20 billion development project to be implemented in Rasmalé with UAE's Eagle Hills company.

Speaking on the "Nation Chat" program, the President made these remarks as an indirect response to statements made regarding the project by former President Abdulla Yameen.

The President stated that the government will not provide any sovereign guarantees for this project, nor will the government take out any loans. He also noted that there will be no tax concessions or duty waivers granted under the project.

Denying claims made by political figures that Rasmalé land is being sold to foreigners, the President stated that land there is only being leased. Highlighting that while a previous government amended the constitution to allow foreigners to own land, that provision was later changed, he assured that no foreign party can own land in the Maldives in violation of the constitution. "Without transferring ownership, I want to bring in the maximum possible investment to this place," the President said.

Regarding housing, the President stated that no land plots previously allocated to anyone will be cancelled. He added that once the analysis of application forms is completed, plots will be given to everyone who qualifies, and there will also be space for building flats in Rasmalé.

Although foreign investors estimated 10 years to complete the entire project, the President stated that water, sewerage, electricity, and road construction work in Rasmalé will be completed much earlier than that. Accordingly, utility works will be contracted out and commenced as soon as land reclamation is completed this year, with the aim of facilitating recipients to begin construction on their land plots, he said.

According to the President, the Rasmalé project is one that will elevate the Maldives' GDP to a higher tier and create numerous employment opportunities. Describing those attempting to obstruct such beneficial initiatives for the Maldives as lacking a national perspective, the President assured that such parties will not be able to stop this project.

In addition to Rasmalé, the President highlighted that the government prioritizes infrastructure works in Gulhifalhu and Giravarufalhu. After land reclamation in Giravarufalhu was temporarily halted due to high costs, that issue has now been resolved, and water and sewerage works in Gulhifalhu will also commence very soon, he said.