Laws will be amended to facilitate Alabbar's interests: Shamau
29 އޮކްޓޯބަރު 2026 | ބުރާސްފަތި 13:54Shamau has alleged that a significant portion of the Ras Male' project was awarded to Eagle Hills following specific legislative amendments to the Special Economic Zone (SEZ) Act. Highlighting inconsistencies in official government statements regarding the project, he further asserted that the agreement to grant the company a 10 percent share of the profits from Ras Male' would result in substantial financial losses for the state.
Shamau Shareef, Vice Chairperson of the MDP’s Public Protection Committee. | Raajje MV
Shamau Shareef, Deputy Chair of the MDP’s Public Protection Committee, has stated that laws will be amended to favor Mohamed Alabbar, the head of Eagle Hills, who has been allocated a significant portion of land in Ras Male'.
Speaking during RaajjeTV’s "Dhivehinge Bin Dhivehinnah" coverage, Shamau stated that a significant portion of the land reclaimed using 700 million Rufiyaa of public funds has been handed over to Sri Lanka’s Capital City Holdings (Alabbar). He further alleged that the Ras Male' project was awarded to the company free of charge.
In this regard, Shamau stated that the general laws currently in effect in the Maldives will not apply to the zone. Highlighting ongoing amendments to the SEZ Act, he further noted that the People’s Majlis would revise legislation to facilitate operations for Alabbar.
At the same time, Shamaau strongly criticized the government, pointing out significant discrepancies between the statements made by various government officials and those of Eagle Hills.
One official stated that 10 percent of the proceeds from the sale of any building constructed there would be allocated. However, we then saw an interview with another official in the media claiming that they are currently constructing 5,000 housing units for the public in Hulhumalé. Furthermore, other high-ranking officials are now asserting that this 10 percent will be utilized to cover the down payments and the associated costs of the project.Shamau Shareef
Shamau stated that the housing units being developed by Eagle Hills in Hulhumale are being funded through the sale of designs for buildings planned for Ras Male'. He further noted that the 10 percent profit share, which was purportedly intended for the state, would instead have to be paid to Eagle Hills. Additionally, Shamau revealed that the properties in Ras Male' are being sold through a pre-order system.
On behalf of the entire Maldivian public, the 10 percent stake that the people are supposed to receive is being withheld. Instead, it is being diverted back to Alabar. He is the one constructing the project in Hulhumalé; he is the contractor and, essentially, he is the one providing the financing. He is developing the site under a loan arrangement.Shamaau Shareef
Furthermore, Shamau stated that Ras Male' is not being leased, but rather being sold.
