Former President and Maldivian Democratic Party (MDP) Chair Mohamed Nasheed has urged the Government to submit the contract for the planned USD 20 billion Rasmalé project to Parliament as soon as possible.

In a post on X, Nasheed said allowing foreign investors to establish long-term residency arrangements in the Maldives was not inherently wrong. However, he raised concerns over the lack of transparency surrounding the agreement with UAE-based Eagle Hills, noting that the contract had not been made public.

Nasheed identified two key concerns: the absence of an advance payment and the project’s location in the Greater Malé area.

He said submitting the contract to Parliament would be the most appropriate way to address these concerns. He also stressed the importance of securing parliamentary approval for the legal framework required to implement the project.

The Government has decided to lease 500 hectares of reclaimed land in Rasmalé to Eagle Hills for 99 years. The project plans to develop a modern marina and a world-class waterfront city.