What is signed, what is only promised, and what has not been shown.
This site follows the project on reclaimed land at Ras Malé. It does not campaign to cancel or promote it. Anything said by the government or the developer is recorded as a claim until a document is public.
Where each ledger item stands
Each segment is one row of the ledger, coloured by the strongest evidence behind it. Select a segment to open that row.
The summary loads from the ledger when this site is online.
Current status
- Agreement type
- Commercial terms only
- Full text public
- No
- Definitive agreement
- After new Real Estate Law, says AG
- Acquisition fee and land rent
- Officials say none
10% revenue share instead - 5,000 homes
- Claimed for Hulhumalé, three-bedroom
- Housing cost and start
- USD 400–500m, Q1 2027 claimed
- Ras Malé pledged plots
- Ministry says unchanged
- Open tender on record
- No
Minister: private-sector-initiated proposal - Lease renewal on resale
- Conflicting statements
In short
Officials say Eagle Hills will not pay an acquisition fee or land rent on about 500 hectares leased for 99 years. In place of that upfront fee, the state says it will take 10% of master-developer revenue, 4% on property transactions, and normal TGST. The 5,000 homes are described as a contractor-financed Hulhumalé project whose cost is later deducted from the government’s revenue share. On 20 October the President said leases will not renew automatically, which differs from the resetting lease Eagle Hills announced. These points are public statements. The signed text is still not on this site.
Help keep the record
The monitor needs volunteers for translation between Dhivehi and English, archiving news and official posts before they disappear, and logging information requests. Spotted an error? Corrections are welcome too.