Addu City Mayor Ali Nizar has said that although he is dissatisfied with how Eagle Hills is carrying out its project in Rasmale, he is ready to bring a project by the company to Addu if principles of transparency and accountability are put in place.

Speaking at an investment forum held as part of the MDP congress, Nizar said that because the city council does not support the model under which the Rasmale project is being run, he does not want the project brought to Addu in that form. However, he noted that if the project came in a way that allowed its details to be clearly explained to the public, it would be an opportunity for Addu’s development.

The agreement between the government and Abu Dhabi-based Eagle Hills to develop a USD 20 billion waterfront and marina project in Rasmale was signed on 21 September. It is among the largest foreign investments ever proposed in the Maldives.

Meanwhile, a constitutional case has also been filed at the Supreme Court seeking to annul the agreement, arguing that it violates Article 250 of the Constitution, since there is no legal framework allowing state land to be leased to a foreign party for 99 years.