Eagle Hills shows no evidence of having capacity to invest $20 billion: Easa

Former Member of Parliament for the Kendhikulhudhoo constituency, Ahmed Easa, has stated that there is no evidence to suggest Eagle Hills possesses the capacity to invest $20 billion.

Speaking during RaajjeTV’s special coverage titled "Dhivehinge Bin Dhivehinnah," Easa stated that Eagle Hills is not recognized among the major prominent corporations in Dubai. He further noted that if Eagle Hills were to undertake a project in the Maldives, there are valid grounds to question the company's financial capability.

Easa stated that a review of Eagle Hills' international track record reveals the company lacks the capacity to execute the Rasmalé project. He further noted that the projects initiated by the firm in other countries have become a significant burden for their respective citizens.

I have observed examples in less affluent European nations such as Serbia, Georgia, and Albania. For instance, the agreement for the project in Serbia was signed in 2015 with a commitment to invest $3 billion. However, available data indicates that even after a decade, the project has not reached 50 percent completion. Similarly, in Albania, an agreement was signed in 2023 for a $2 billion investment project. To date, there is no clear indication of the progress made, and the project remains unfinished.

Ahmed Easa

Easa stated that Eagle Hills' project in Albania demonstrated a failure where $60 million was wasted after they attempted to sell properties in advance before construction had even commenced. He further noted that although an agreement was signed in 2025 to undertake a project in Georgia, there has been no visible progress on the ground to date.

At the same time, Easa noted that although an agreement was signed to invest $3 billion in Serbia, only $150 million was actually invested over a period of 10 years.

Furthermore, Easa questioned the extent of the benefits the Maldives would derive from this project.