Selling land and residency to foreigners: A major risk

In a situation where there is no money to spend on housing projects due to financial difficulties, every Maldivian must question themselves before opening up opportunities to sell land, including housing plots, to the world's wealthy by granting them residency. At a time when the risks to the Maldives' fragile economy and the impact of external conditions are increasing, the country is at a high risk of defaulting on its debt. Despite the government's strong desire to attract foreign investors amid this financial crisis, large land reclamation projects have been initiated in various directions near Malé under the guise of housing. As legal changes and administrative restructuring pave the way for foreign capital in development projects, there is a significant risk of prioritizing land sales to foreigners over national interests.