Muizzu Administration Removes 99-Year Lease Reset Clause from Eagle Hills Agreement
28 ސެޕްޓެމްބަރު 2026 | ހޯމަ 20:38Eagle Hills, the developer of the "Maldives Waterfront and Marina" in Ras Male', has removed a controversial clause from its proposal that would have reset the 99-year lease period each time land ownership changed. This amendment follows intense public criticism, though some observers allege the move is a deceptive tactic to quell outcry.
From the signing ceremony held with UAE’s Eagle Hills to develop the "Maldives Waterfront and Marina" in Ras Male'. | Housing Ministry
Eagle Hills, the UAE-based developer involved in the Ras Male' project, has removed a controversial clause from its statement which previously claimed that the 99-year lease period would reset every time ownership of the property changed.
Following the signing of an agreement between the government and UAE-based Eagle Hills to develop the "Maldives Waterfront and Marina" in Ras Male', information released by the company regarding the project states that properties within the destination will be leased for a long-term duration of up to 99 years, in accordance with Maldivian law. The company had previously noted that a new 99-year term would commence each time ownership is transferred through sale or inheritance. It further highlighted that this structure ensures the properties remain a lasting asset across multiple generations.
The government has clarified that a new 99-year lease period will commence following the signing of an agreement with UAE’s Eagle Hills to develop the "Maldives Waterfront and Marina" in Ras Male', correcting previous reports on the matter. | Eagle hills
However, the revised information now states that properties at this destination will be leased for a long-term period of up to 99 years, in accordance with Maldivian law. Under this arrangement, leasehold rights are transferable and inheritable. The updated details further clarify that any such transfer of rights must be formally registered and is subject to prior government approval.
The government has revised a clause in the agreement with UAE’s Eagle Hills for the development of the "Maldives Waterfront and Marina" in Ras Male', which previously stated that a new 99-year lease period would commence upon signing. | Eagle hills
Consequently, the provision that previously allowed the 99-year lease period to restart from the beginning upon each renewal has now been entirely removed.
The Ras Male' project has been promoted as one of the most significant initiatives launched by President Dr. Mohamed Muizzu’s administration, aimed at providing a permanent solution to the Maldives' housing crisis and creating new economic opportunities. However, it recently emerged that an agreement was signed to lease a substantial portion of this project to Eagle Hills for a period of 99 years. It appears that this component has now been retracted following public outcry. Some critics allege that this sudden reversal, prompted by widespread public backlash, is a deceptive tactic.
