The Maldivian government will implement strict screening mechanisms to prevent Israeli citizens and affiliated companies from purchasing real estate under the Rasmalé mega-project, Minister of Construction, Housing and Infrastructure Dr. Abdulla Muththalib confirmed in a statement on LinkedIn yesterday.
Dr. Muththalib affirmed that the flagship land reclamation and urban development project will proceed successfully without compromising the Maldives' long-standing foreign policy in support of Palestine. He emphasised that the initiative does not allow for outright freehold ownership of land, clarifying that parcels and properties will be allocated strictly on a leasehold basis under stringent statutory frameworks and eligibility criteria.
To safeguard the transaction chain, rigorous screening criteria will be established across buyers, beneficial owners, shareholders, financiers, and sales agents to verify that no Israeli-linked entities participate in the development. All prospective purchasers will be legally mandated to disclose their complete current and historical nationality records. Withholding or falsifying citizenship details will result in the immediate revocation of agreements, the seizure of properties, and the forfeiture of payments to the state.
Addressing the regulatory framework, Dr. Muththalib noted: "Caps and strict conditions will be established to limit the volume of properties acquired by specific individuals or parties associated with designated countries." He added that these measures will be reinforced whenever a property transaction or lease transfer takes place.
The minister reaffirmed that Maldivians will be granted absolute priority throughout all phases of the project, including the provision to purchase units using Maldivian Rufiyaa (MVR). He highlighted that quota limitations and foreign ownership caps imposed on overseas entities will not apply to Maldivian citizens.