A complaint has been submitted to the Anti-Corruption Commission (ACC) after the Housing Development Corporation (HDC) sold six land plots on a concessional basis.
Those who purchased the land plots include HDC's Managing Director Fazul Rasheed's wife Zulfeena Rasheed. The complaint against HDC was submitted earlier this week.
"I believe it is an issue that should be looked into even if no one complains," the complainant said.
The ACC could not be reached for comment.
Zulfeena Rasheed submitted a bid for a land plot when HDC announced the sale in Hulhumale' Phase Two in 2017. She was ranked 40 in the list of bidders. She was unable to buy the land as the sale was done with only 36 bidders.
Four years later in 2021, she filed a case in the Civil Court seeking an order to sell her the land. While the case was pending, a stay order was sought to stop the sale of more land in Hulhumale'. However, neither the Civil Court nor the High Court issued the stay order.
The ruling also came against Zulfeena. The court ruled that there was no basis for ordering the HDC to sell the land to Zulfeena. The ruling was not appealed and when the government changed in 2023 and Fazul became HDC's MD, one of his top priorities was to sell the land to his wife.
A 2,140-square foot of land was sold to Zulfeena for MVR 11.7 million including GST in the most expensive beachfront area of Hulhumale' Phase Two. The value of the land after deducting GST is MVR 10.2 million. The money is repayable in 60 months (five years). That is MVR 185,366.18 per month with GST.
“This has never been the rule followed in selling land in the history of HDC," a senior official of the company said.
The HDC did not disclose the names of the five others who bought the land on a concessional basis. Along with Zulfeena, five others did not get land from the 42 people who applied for the 2017 bid for land.
