The ‘Ilmuveringe Jamyiyya’ (Association of Maldivian Scholars) expressed worries regarding the "Maldives Waterfront and Marina" initiative in Rasmalé during a discussion with Islamic Minister Dr. Mohamed Shaheem Ali Saeed.

In a message on 'X', the association mentioned that religious leaders have voiced significant worries regarding the mega-project in Rasmalé. In the meeting with Minister Shaheem, the association pointed out possible risks the project might bring to foreign settlement in the Maldives, the Islamic identity of the country, its sovereignty, independence, economic autonomy, and cultural aspects.

The organization stated that its worries were founded on information gathered from pertinent government agencies to date. The post also asked Minister Shaheem to communicate these concerns to President Dr. Mohamed Muizzu.

The Maldivian Scholars Association has also held discussions with Infrastructure Minister Dr. Abdulla Muththalib, Attorney General Ahmed Usham, and Economic Minister Saeed.

Attorney General Usham has indicated that the Rasmalé project will move forward under a recently composed Real Estate Act. He mentioned that actual building would begin only after the Parliament approves the law and final contracts are signed after additional talks.

An essential part of the project involves creating 5,000 housing units in Hulhumalé, with Mohamed Alabbar estimating the cost to be around USD 500 million. He indicated that Eagle Hills would make the initial investment for the housing project and recoup the money as the larger Rasmalé initiative advances.

Eagle Hills anticipates that the Rasmalé venture will produce considerable economic advantages for the Maldives. In an interview with 'Sun', the chairman of the company, Mohamed Alabbar, estimated that the finished project would draw in another one million visitors to the Maldives. He also mentioned that the construction stage would create 40,000 jobs, with approximately 15,000 to 18,000 permanent positions established once the project is fully functional.

The massive initiative, projected to need a total investment of USD 20 billion, includes hotels, resorts, upscale residences, a marina, waterfront walkways, and healthcare and educational services.

Simultaneously, the Supreme Court has refused to take on a constitutional case aimed at blocking the ruling to assign 500 hectares of land in Rasmalé to UAE-based Eagle Hills. The case disputed the allocation based on constitutional issues.

Certain political leaders and activists in the Maldives have voiced worries that the initiative might enable Israeli nationals to acquire real estate in the region. Nonetheless, both the Maldivian government and Eagle Hills have asserted that the agreement does not present such a danger.