Minister of Infrastructure, Housing and Urban Development Dr. Abdulla Muththalib has stated that there are no grounds for concern regarding the USD 20 billion project by UAE's Eagle Hills in Rasmalé, and that the initiative will bring a revolutionary shift to the Maldives' economic prosperity.

In an interview with state media PSM, the Minister noted that given existing tourism laws and regulations, this concept is not entirely new to the Maldives. He explained that the primary objective of the project is to establish a profitable real estate market.

The Minister assured that properties will not be handed over permanently or inherited across generations without state control. He emphasized that any sale or transfer of property must be approved by the government, ensuring that state oversight is never compromised.

Drawing comparisons to how resort shares change hands without state intervention, Muththalib noted that adequate safeguards have been integrated into the Rasmalé project. He dismissed opposition concerns as politically motivated attempts to grab public attention given the unprecedented scale and high benefits of the project, assuring that both current commercial terms and upcoming definitive agreements will strictly safeguard Maldivian sovereignty.

Describing real estate tourism as an exciting complement to traditional resort tourism, Muththalib estimated that while Eagle Hills is investing USD 20 billion, total Foreign Direct Investment (FDI) resulting from the broader ecosystem could reach USD 30 to USD 31 billion. He highlighted that this figure surpasses the combined investments of all previous tourism projects in the Maldives, signaling massive potential economic growth.