President Dr Mohamed Muizzu has assured today that the law will prohibit Israeli citizens from obtaining or purchasing any property at the Maldives Marina and Waterfront to be developed in Rasmale'.
Responding to opposition criticism of the planned Eagle Hills project in Rasmale' for the first time, President Muizzu said today on the President's Office podcast 'The Pulse' that these critics are people who clearly understand the realities of the project, and yet choose to misrepresent and obfuscate the facts for political gain.
The President stated that buyers are given properties from the Eagle Hills project in Rasmale' for a period of 99 years, at the end of which they must sell the properties back to the Maldivian State.
"If the State then decides to do so, the properties can be sold on to another buyer. Full control and authority will remain with the Maldives' State, the Maldives' government. So, there is no auto renewal, another 99 year extension. This is not something like that," the President explained.
He further added that a third party cannot sell the property on without the government's knowledge.
President Muizzu stressed that even at present, islands are leased in the Maldives for 99 years to operate resorts. He said that once this period ends, the agreement allows for the State to cover the costs incurred on the property and bring the resorts under its ownership, or to extend the duration if deemed appropriate. The Rasmale' project will be conducted in the same manner, he said.
"When we look at those who are expressing interest even now in purchasing property here, most of them are from GCC nations, Middle Eastern countries. I would say that it will be Maldivians and Arabs at these properties, Arabian muslims," the President said.
"So, there is no possibility, especially for Israeli citizens, to obtain any places here. It is strictly prohibited by law. So the opposition's claims are baseless," President Muizzu said.
The President noted that it was this administration that launched the 'qaumiyyath' [nationalism] project to instill and enhance love for the nation among citizens. Further, he added, it was this administration that banned entry into the country on Israeli passports. While this is so, it is irrational to claim that this administration will allow Israelis to reside in the country, he said.
The President asserted that this will be clearly laid out when the Real Estate Bill is submitted to parliament.
"Will not allow other religions"
The President went on to allege that the opposition was spreading rumours that foreigners will set up residence in Rasmale' and practice other religions solely for political reasons.
He stated that persons who are sincere in wanting development for the country, have patriotic sentiments, and prioritize the truth and facts surrounding a matter would not resort to making such unfounded claims.
Rasmale' would remain within the boundaries of the Maldivian State in all manners, the President stressed, asserting that the Maldives Constitution and Laws will apply without exception there as well.
The Constitution is very clear on the matter, the President said, which ensures that there will be no opportunities to practice other religions even in Rasmale'.
When speaking of foreigners, it is important to bear in mind that at all times, there are at least 200,000 tourists in the country, he said. Despite this, tourist resorts do not have any religious infrastructure besides mosques, he pointed out, adding that Rasmale', too, will similarly only have mosques as public prayer houses.
"Now if we consider the expatriate workforce in the country, this is a far larger demographic. When we look at foreigners here for various reasons, most of them are here in the Male' area. I think there are about a hundred thousand or two hundred thousand expatriates in the Male' area. None of those making political statements are pointing at this. So these claims are not logical," the President said.
The President said that property owners and tourists will both visit Rasmale', but no other religion besides Islam can be practiced there.
"There won't even be a school in the area of Rasmale' where Eagle Hills will develop their investment. These are also baseless claims. The area will have a police station under the Maldives Police Service. Some are claiming that the area won't even have a police station," the president continued to address speculation about the project.
The government has decided to allocate 500 hectares of reclaimed land in Rasmale' (Fushidhiggaru Falhu) to Eagle Hills to develop a waterfront and marina project. The government estimates that even before the project is implemented, the developer will build 5,000 housing units worth USD 500 million (MVR 7.7 billion) for the Maldives' State.
All the proceeds from sale of properties under the project will be deposited in an escrow account controlled by the Maldives' government, which will contribute towards resolving the dollar shortage faced by the country, as well as aid the central bank MMA in strengthening reserves, the government said.
The agreement does not provide any tax or duty concessions as under the SEZ Act and Tourism Act, and will instead bring in all due TGST and other taxes to the State, the government noted.
