Friday 09 Oct 2026
Eagle Hills’ founder and chairman Mohamed Alabbar gives Sun an exclusive interview, October 8, 2026. (Sun Photo)
Mohamed Ali Alabbar, Chairman of UAE-based Eagle Hills, has addressed growing concerns over the proposed 99-year land lease for the Rasmalé project, stressing that investors must comply with the laws and regulations of the Maldives.
In an exclusive interview with Sun on Thursday, Alabbar said developers are required to abide by the laws of the countries in which they operate, adding that those unwilling to accept the regulations should not pursue projects in those jurisdictions.
His remarks come amid mounting public debate over a proposal to lease approximately 500 hectares of land in Rasmalé to the UAE-based company for 99 years. The project has raised significant concerns over national sovereignty, the scope of rights granted to foreign investors, and the safeguards necessary to protect the country’s long-term interests.
In particular, members of the public have expressed concerns that a lease spanning nearly a century over a strategically important area could confer extensive rights on foreign investors. Fears have also been raised over the possibility of Israeli settlement in the Maldives. Additionally, questions remain over the legal framework governing the lease and the conditions under which properties within the development could be transferred to third parties.
"Whether it is a 99-year lease regulation or any other regulation, that law must be respected," Alabbar said.
He also noted that governments have the authority to amend their laws and that investors must respect such decisions.
"After some years, the government might change that law. That is not an issue; it is their country," he said.
Alabbar stressed that investors who find it difficult to operate within a particular legal framework should refrain from investing in that country. However, those who proceed with an investment must respect the established laws and business practices of the jurisdiction in which they operate.
Asked about potential national security risks associated with developing an area as large as Rasmalé, Alabbar did not outline specific security measures. Instead, he highlighted the company’s guiding principles, stating that Eagle Hills would not pursue projects that lacked public support.
"Our principle is that if the community has no interest in such a project, we do not do it," Alabbar stated.
He emphasized that public concerns must be addressed transparently and that efforts should be made to resolve them. If those concerns cannot be adequately addressed, he said, the project should be abandoned rather than proceed at the expense of the community’s well-being.
Alabbar explained that Eagle Hills generally focuses on large-scale, integrated developments encompassing residential buildings, roads, schools, parks, hotels and commercial facilities, rather than standalone structures. As a result, scrutiny of the Ras Malé project extends beyond its potential economic benefits to include the legal and regulatory framework under which it would operate.
Although the full details of the agreement have yet to be made public, Alabbar affirmed that the public has a right to know its terms. He expressed confidence that the government would disclose further information once the agreements are finalized, stressing the importance of keeping the public informed.
"The core principles have already been announced. However, I believe the government will come forward with all the details, as that is the promise they have made to me," Alabbar said.
He concluded by emphasizing that the agreement must incorporate safeguards to protect the rights of both parties, ensuring that the government’s interests remain protected if the developer fails to fulfil its obligations. He stressed that the terms must be fair and mutually beneficial rather than favouring one party over the other.
The final terms of the Rasmalé agreement, the legal safeguards governing the land lease, and the mechanisms for ensuring compliance with the developer’s obligations are expected to be central to addressing public concerns over the protection of the Maldives’ long-term national interests.
