Where the Opposition Stands on the Ras Malé Eagle Hills Deal

Since the government signed commercial terms with Eagle Hills on 21 September 2026 for a waterfront and marina in Ras Malé, all three former presidents have spoken against the agreement. Their objections are different, though, and only one of them opposes the idea of a waterfront outright. This report sets out what each has said, and how the government has responded.

For the terms of the deal, see our Eagle Hills deal explainer. For the developer, see who Eagle Hills is.

Ibrahim Mohamed Solih: don't go ahead with a secret deal

Speaking at the opening of the Maldivian Democratic Party (MDP) congress, in remarks reported on 2 October, former President Ibrahim Mohamed Solih said an agreement reached in secret should not be implemented, and that an MDP government should not allow it to go ahead.

His main points, as reported by The Edition, were:

• Secrecy. "We should not say yes to anything that goes on in secret," he said. The full terms haven't been made public.
• The cost of the land. He questioned the public benefit of reclaiming Fushidhiggaru lagoon, at an estimated cost of about US$700 million, if a large part then goes to a foreign developer.
• Lost revenue. He said the arrangements would cause the state to forgo significant revenue.
• Cancel if not disclosed. He urged the congress to press the government and Eagle Hills to cancel the agreement if the details aren't disclosed.

He also said the MDP doesn't oppose foreign investment or residency programmes. Responding to government criticism of a lagoon lease made under his own administration, in Vaavu Atoll, he said that lease had brought in US$43 million, which was used to reclaim land for a domestic airport.

Mohamed Nasheed: right idea, wrong place

Mohamed Nasheed, who was elected MDP chair in June 2026, has taken a more mixed position.

On the day the deal was signed, he wrote on X that a Ras Malé waterfront was a good idea. But he argued that it does little for the country's immediate financial problems, because even if everything goes to plan, the state would wait at least two years for any revenue. He said the better step now would be to sell state capital assets to pay down debt, as his own government did when it sold state shares in Dhiraagu and the water and sewerage company, and leased the airport to India's GMR. President Mohamed Muizzu opposes asset sales and has moved to buy back the Dhiraagu and MWSC shares.

At the MDP's investment forum in early October, Nasheed went further. He asked the party to discuss moving the Eagle Hills project from Ras Malé to Addu City, in the far south. He said his objections were to the location in the Greater Malé area, which he argued concentrates opportunity in the capital and drains people from the islands, and to the lack of transparency. He named two specific concerns: that the project provides no advance payment, and that it is being built in the Malé area.

Addu City Mayor Ali Nizar, asked how the council would react, said he wouldn't want the project brought to Addu in its current form, but that the council wouldn't oppose a move. "Hopefully they will come," Nasheed replied.

Abdulla Yameen: scrap it

Former President Abdulla Yameen, who now leads the People's National Front, has taken the hardest line. In a post on X in October, he said "we have nothing but disdain for this project" and called on the developers to scrap it. He accused Eagle Hills of aiming to create what he called "a Jewish settlement" in Ras Malé. The Edition has also reported that he wants the agreement scrapped by the next government.

Speaker of Parliament Abdul Raheem Abdulla, who chairs the ruling People's National Congress, replied that the project "will not be stopped" and would begin soon, during President Muizzu's term, in line with the constitution and the law. He accused Yameen of hypocrisy, recalling that Yameen had earlier accused the MDP of treason for opposing a development project in Faafu Atoll.

The government's replies

The government's answers to these criticisms have come from several ministers and from the President himself.

On secrecy

Housing Minister Dr Abdulla Muththalib told Parliament that the main provisions of the commercial terms have already been made public, and that the deal was signed under the government's rules for private sector initiated proposals. The investment schedule and penalties for non-completion are to be in the main agreement, which is still to come.

On money

Finance Minister Hassan Zareer says the project will bring the state more than US$11 billion over its 10-year development, from tourism GST, a 10% share of the developer's sales revenue and a 4% fee paid by buyers. The government says there are no tax or duty exemptions, no state loans and no sovereign guarantee. It also says Eagle Hills will build about 5,000 homes for the state, worth around US$500 million, before work on the waterfront starts. That is its answer to the complaint about no upfront payment.

On foreign buyers and religion

On the President's Office podcast The Pulse, reported on 20 October, President Muizzu called the opposition's claims baseless and accused critics of distorting the facts for political gain. He said:

• buyers from any single country will be limited to 25% of the properties;
• Israeli citizens will be barred by law from owning property there;
• Islam is the only religion that can be practised there, and the Maldivian constitution and laws will apply;
• properties will return to the state after 99 years, with no automatic renewal.

These rules are to be set out in a Real Estate Bill for Parliament. Homeland Security Minister Ali Ihusaan has also urged people not to spread false information about the project, saying Maldivian law enforcement will hold full legal power in Ras Malé, as everywhere else.

On housing

The President has said the Eagle Hills project won't affect the government's housing plans, and that half of the 500-hectare area is reserved for Maldivians. The land plots and flats promised under the Housing for All scheme are separate from the waterfront. See our guide to housing in Ras Malé.

The courts

A constitutional case against the deal, filed by the lawyer and former MP Ali Hussain, was turned away by the Supreme Court registrar on procedural grounds. The registrar said this type of case can't be brought straight to the Supreme Court at the first stage. The decision can be reviewed by the court's judges, and it doesn't settle the arguments about Articles 250 and 251 of the constitution. Our report on the case explains them.

How the debate unfolded

• 21 September: the government and Eagle Hills sign commercial terms. Nasheed calls the waterfront a good idea but says selling state assets would do more for the debt.
• 26 September: President Muizzu says the project won't affect housing plans and gives no tax breaks, loans or guarantees.
• 30 September: Finance Minister Hassan Zareer puts the state's revenue at over US$11 billion in 10 years.
• 1 to 3 October: at the MDP congress, Solih says a secret deal shouldn't go ahead, and Nasheed suggests moving the project to Addu.
• 11 October: Yameen calls for the project to be scrapped. Speaker Abdul Raheem Abdulla replies that it won't be stopped.
• 13 October: the Supreme Court registrar turns away Ali Hussain's case.
• 17 October: Homeland Security Minister Ali Ihusaan warns against false information.
• 18 October: Housing Minister Muththalib tells Parliament the deal was signed under the PSIP rules.
• 20 October: the President announces the 25% cap per country and the ban on Israeli buyers.

Where this leaves the deal

The People's National Congress has a large majority in Parliament, so the opposition can't block the Real Estate Bill on its own. What it can do is keep pressure on two points the government hasn't yet settled: publishing the full agreement, and showing how the revenue estimates were calculated. Both former MDP presidents have said they support foreign investment in principle. Their argument is about the terms, the transparency and, for Nasheed, the location.

The next presidential election is due in 2028. Solih's call for an MDP government not to honour a secret agreement, and Yameen's call for the project to be scrapped, mean the deal's future could become an election issue, particularly if the main agreement isn't signed and published before then.

What to watch

• The Real Estate Bill, and how the cap on foreign buyers and the 99-year rules are written.
• The main agreement, including the investment schedule and penalties.
• Any review of the Supreme Court registrar's decision.
• The MDP's formal position. Its congress discussed the deal, and its leaders' views differ in emphasis.

We'll keep this page updated as positions change.