The Maldivian Democratic Party (MDP) passed and submitted a resolution to the People's Majlis calling for a public referendum on the government's agreement with Eagle Hills for development of Fushidhiggaru Lagoon at Ras Male'. The resolution cites constitutional and Referendum Act provisions and raises concerns about the 99-year lease of publicly reclaimed land.
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Following the signing of a commercial terms agreement with Eagle Hills in Dubai on September 21 for the "Maldives Waterfront and Marina" project at Ras Male', Housing Minister Dr. Abdulla Muththalib clarified the project's scope in a written response on October 15.
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Housing Minister Dr. Abdulla Muththalib clarified the project's scope in a written response on October 15.
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The Minister stated that the development will span approximately 500 hectares of reclaimed land at Fushidhiggaru Lagoon.
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The agreement stipulates that the land will be leased for a 99-year period.
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the government is set to receive 10 percent of the developer's total revenue
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along with a 4 percent royalty on the sale price of all units within the project.
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