Rasmalé

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Founder of Eagle Hills has said construction preparations for the proposed $20 billion Rasmalé development could take around a year, as the project moves through detailed design, tendering and environmental studies.

Eagle Hills founder Mohamed Alabbar says the proposed $20 billion Rasmalé development must reflect the Maldives’ unique identity rather than replicate destinations such as Dubai or Cairo.

Eagle Hills Chairman Mohamed Alabbar says his decision to pursue projects in different countries is driven not only by business interests but also by his sense of duty as a Muslim to contribute using his knowledge, experience and resources.

Eagle Hills Chairman Mohamed Alabbar has said the proposed $20 billion Rasmalé project is expected to create around 40,000 jobs during construction and between 15,000 and 18,000 permanent jobs once operational.

Eagle Hills Chairman Mohamed Alabbar has said the Maldivian government will retain control over property buyers and lease agreements under the proposed Maldives Waterfront and Marina project, stressing that the developer must operate within the country’s laws and regulations.

Eagle Hills Chairman Mohamed Alabbar has said Maldivians will be given opportunities to participate in and invest in the company’s projects in the Maldives, stressing that any development undertaken in the country must benefit Maldivian society.

Eagle Hills Chairman Mohamed Alabbar has said the company expects to invest around US$500 million in the first housing component of the Rasmalé development, while stressing that the wider project could bring significant employment, tourism and tax revenue to the Maldives.

The Maldives Government has outlined the financial, development and ownership terms of the USD 20 billion Rasmalé Waterfront and Marina project being developed with Abu Dhabi-based Eagle Hills.