Rasmale' project to generate 14,000 permanent jobs

President Dr. Mohamed Muizzu stated that the Rasmale' Development Project will create approximately 14,000 permanent jobs and 54,000 development-phase employment opportunities, with total investment reaching an estimated USD 30 billion. He assured that foreign land ownership remains prohibited, Israeli nationals will be barred from purchasing property in the project area, and the State will receive 5,000 housing units plus 10 percent of the developer's revenue.

First reported 21 Oct 2026, 13:02

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Rasmale' project to generate 14,000 permanent jobs

14,000 jobs permanent jobs generated

21 Oct, 13:02 First Open at outlet

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Figures in these reports

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14,000 jobs permanent jobs generated Byline
the initiative would generate approximately 14,000 permanent jobs
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54,000 jobs employment opportunities during development phase Byline
alongside 54,000 employment opportunities throughout the development phase
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USD 30 billion total investment including associated developments Byline
the total investment, encompassing associated developments, will reach USD 30 billion
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5,000 housing units housing units received by the State Byline
the State will receive 5,000 housing units valued at USD 500 million as an advance commitment
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USD 500 million value of housing units received by the State Byline
the State will receive 5,000 housing units valued at USD 500 million as an advance commitment
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10 percent share of developer revenue granted to the State Byline
as well as 10 percent of the developer’s revenue
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approximately USD 3.1 billion estimated value of the State's share of developer revenue Byline
estimated at approximately USD 3.1 billion
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Other events named

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President Dr. Mohamed Muizzu discussed the Rasmale' Development Project, addressing job creation, land ownership rules, and economic benefits eighth episode of "The Pulse" podcast series podcast broadcast Byline
The President gave this assurance during the eighth episode of "The Pulse" podcast series.
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Construction & property

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Mohamed Muizzu Rasmale' Development Project