Opposition Leaders Demand Transparency as Former President Solih Calls to Void 'Secret' Ras Malé Mega-Deal

Former Maldivian President Ibrahim Mohamed Solih has delivered a stinging critique of the current administration’s flagship Ras Malé development project, declaring that the Maldives must reject agreements born out of secret dealings and pledging that such deals would never be honoured under a future Maldivian Democratic Party (MDP) government.

Speaking at the inauguration of the MDP Congress, Solih raised serious concerns over the lack of transparency surrounding the project, which involves building Maldives Waterfront and Marina in the reclaimed Fushidhiggaru Falhu lagoon in partnership with UAE-based real estate giant Eagle Hills.

Public Funds and Free Land: Solih Questions the Deal

According to Solih, the mega-project utilises approximately USD 700 million in public funds for land reclamation, yet the government has reportedly agreed to hand over 500 hectares of the prime reclaimed land to the foreign entity for free.

The question is, what benefit does this bring to the public? What does the government get out of this? Solih asked the gathering.

While clarifying that the MDP does not oppose foreign investment or the lawful issuance of residence visas, Solih emphasised that the veil of secrecy surrounding the Ras Malé project is unacceptable. He urged the party's Congress to officialise a call demanding the government and Eagle Hills void the agreement if its full details are not immediately disclosed to the public.

We must not say yes to anything done in secret. Nor should we allow room for such work to proceed in a government of ours, Solih asserted.

Defending Past Projects Against Government Criticism

In response to government figures who have sought to deflect criticism by comparing the Ras Malé deal to the previous administration's leasing of V. Foththeyo Falhu, Solih drew a sharp distinction between the two agreements.

He explained that the lease of the Foththeyo lagoon generated USD 43 million in direct revenue for the state. The developer involved used its own capital—not taxpayer money—to reclaim land and build a domestic airport in Vaavu Atoll, directly benefiting local citizens.

Solih contrasted this with the current administration's handling of a similar airport project in Noonu Atoll, which was brought under the Special Economic Zone (SEZ) framework. He argued that by granting extensive tax concessions, the current government has structured the project in a way that deprives the state of critical revenue.

A Rare Consensus of Critiques

Solih is not alone in his skepticism. The Ras Malé agreement has drawn rare, unified criticism from across the Maldivian political spectrum. Former President Abdulla Yameen has previously called for the agreement to be voided by any future government. Meanwhile, MDP Chairperson and former President Mohamed Nasheed has also repeatedly demanded the immediate disclosure of the contract.

However, Nasheed’s approach to the controversy offers a different alternative. Speaking during the MDP’s Investment Forum, Nasheed argued that while he has reservations about the deal, the economic concept of a high-end residency programme is not fundamentally flawed. Instead, he questioned the geographical focus of the development.

From what I’ve heard so far, I have two issues—first, not receiving advance funds, and second, building it in the already congested Male’ region, Nasheed wrote on social media platform X.

The Addu City Alternative

During the forum, Nasheed proposed a radical shift—lobbying to relocate the 500-hectare Eagle Hills project from the capital region to Addu City in the south.

When questioned by Nasheed on how the southern city would view such a move, Addu City Mayor Ali Nizar said that while they would reject the deal in its current shroud of secrecy, they would warmly welcome it if executed with absolute transparency and public awareness.

God willing, they will come, Nasheed remarked, expressing hope that the developer could be persuaded to pivot south.