Foreign freeholds amendment repealed from constitution
The prohibition on foreign ownership of Maldivian territory was restored.
15 Apr 2019, 9:00 AM
The outgoing parliament voted Monday to repeal a controversial amendment brought to the constitution in July 2015 to authorise foreign ownership of Maldivian land.
The constitution previously prohibited foreign ownership of any part of Maldivian territory, but allowed leasing of land for up to 99 years. The amendment allowed foreigners who invest more than US$1 billion to buy land within the project site if at least 70 percent of the area when the project is completed is reclaimed land.
The repeal was approved unanimously with 64 votes, the three-quarters majority of the 85-member house needed to amend the constitution.
A bill to repeal the freeholds amendment was proposed by opposition Progressive Party of Maldives MP Abdulla Rifau, who was among the 70 MPs who previously voted in favour of authorising foreign ownership of land.
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