President Dr. Mohamed Muizzu said on Monday that the government would not hold a public referendum on the Ras Malé development project, maintaining that the proposed legislation governing the development safeguards the rights of Maldivians and the country’s sovereignty.
Responding to a journalist’s question during a press conference at the President’s Office, he said the project did not require a public vote.
"This is not a matter for which we will conduct a referendum. This bill explicitly addresses the rights of the Maldivian people, the nation's independence and sovereignty, and ensures total compliance with our laws,
His comments follow a resolution passed by the opposition Maldivian Democratic Party’s National Council calling for a referendum amid allegations that 500 hectares of land in Ras Malé would be granted to UAE-based developer Eagle Hills.
President Dr. Muizzu referred to the government’s proposed Real Estate Business Bill, which has been submitted to the People’s Majlis by North Henveiru MP Ahmed Aifan.
The legislation seeks to establish a regulatory framework for the real estate sector, including developments such as Ras Malé.
Under the proposed framework, a dedicated authority would oversee the industry and maintain a register of land and building units sold.
The bill also provides for licensing developers, brokers, agents and valuers, alongside legal safeguards for payments made by buyers purchasing units before construction is completed.
During the same press conference, President Muizzu also said Israeli citizens holding another nationality would not be able to bypass the proposed restrictions on acquiring property interests in Ras Malé.
He said prospective investors would undergo Know Your Customer checks and background verification before receiving approval.
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