He pledged that not a single grain of sand from Ras Male' would be handed over to a foreign entity for even a single day; yet, it has now been leased for 99 years!
23 ސެޕްޓެމްބަރު 2026 | ބުދަ 12:11Despite President Dr. Muizzu’s repeated assurances that land from the Ras Male' project would not be leased to foreign entities on a long-term basis, the Minister of Finance has revealed plans to lease the land to a UAE-based company for 99 years. This decision has sparked significant public concern as it directly contradicts the President’s earlier pledges.
Despite his pledge that not a single grain of Ras Male' sand would be handed over to a foreign entity for even a single day, the land has now been leased for 99 years. | raajje tv
Despite President Dr. Mohamed Muizzu’s earlier pledge that not even a grain of sand from the land reclaimed under the Ras Male' project would be handed over to foreign parties, the government has revealed that the land is set to be leased to a UAE-based company for a period of 99 years.
President Muizzu has previously maintained that Ras Male' will remain an asset of the Maldivian people, asserting that land in the area would not be leased to foreign parties on a long-term basis.
Speaking at the official ceremony to mark Independence Day 2024, President Muizzu declared that every grain of sand reclaimed for the Ras Male' project belongs solely to the Maldivian people. The President further emphasized that no portion of this land would be leased or granted to any foreign party, even for a single day.
The President stated at the time that the previous arrangement for the Ras Male' project was terminated due to dissatisfaction with its progress. He noted that work has now resumed under a new model that does not require granting land to any party, whether on a short-term or long-term basis.
However, comments made by Finance Minister Hassan Zareer during an interview with the state media, PSM, have revealed that the President’s earlier assertions were inaccurate. Minister Zareer disclosed that under the Ras Male' project, which is being developed in partnership with a UAE-based company, land is being leased to the firm for a period of 99 years. This duration represents the maximum leasehold period permitted for major investments under the Maldives' current legal framework.
Minister Zareer further elaborated that major resort projects currently underway in the Maldives, valued between $200 million and $300 million, are typically developed under 99-year lease agreements. The Minister’s remarks clarified that the land for the Ras Male' project would be allocated to the UAE-based company under a similar long-term leasing arrangement.
This situation has raised significant public scrutiny. Concerns are mounting as many point to a clear contradiction between President Muizzu’s pledge—that not a single grain of sand from Ras Male' would be handed over to foreign parties—and the recent details disclosed by the Minister of Finance.
