Revealed: unallocated flats from Vinares project sold through backdoor deals

Dec 20, 2024, 8:33 PM
Artwork: Ismail Imdhaadh/Adhadhu

Artwork: Ismail Imdhaadh/Adhadhu

Over 100 unsold flats in the Vinares housing scheme in Hulhumalé Phase II have reportedly been sold through backdoor deals, involving bribes and allocations to politically connected individuals, without being opened to public bidding, it has been revealed.

The Vinares project comprises 10 towers, each 13 stories high, with a total of 1,344 flats. Alongside flats sold to the public, units were also allocated to 140 parties from the Gulhifalhu project, 123 from the Sealife project, and 78 individuals who relinquished their Hiya flats.

The flats were sold under two specific categories: individuals who have lived in Malé for at least 15 years and those registered as residents for the same duration. Permanent eligibility lists for both categories were published separately.

For the category of those who had lived in Malé for 15 years, 1,118 applicants were listed, while the registered resident category had 295 eligible applicants.

The three-bedroom flats were offered in various models, priced between MVR 2.5 million and MVR 2.7 million. Over 100 applicants paid in full to secure their purchases.

According to both former and current HDC management, 123 flats remained unallocated across all categories and were officially put up for sale on 5 November 2023.

However, technical issues with HDC’s online portal disrupted the application process, with many applicants unable to submit their forms. Citing unresolved issues, HDC suspended the sale and later canceled all applications in April 2024. Allegations have since surfaced that the flats were sold under the table after the cancellations.

Sources within HDC and other informed individuals claim that politically influential figures or their associates were allocated flats through backdoor deals, with bribes ranging from hundreds of thousands of rufiyaa.

"I was approached by someone from HDC who offered me a flat, demanding an upfront payment of MVR 500,000," one individual revealed to Adhadhu under anonymity. He refused the offer.

As the recent public outcry about the alleged HDC corruption intensified, a businessman with ties to President Dr. Mohamed Muizzu posted on X, stating:

"This isn’t just a rumor! Unsold [Vinares] flats were sold for MVR 500,000 to the owners, MVR 100,000 to the broker, and MVR 50,000 to HDC."

Former HDC Chairman Ahmed Zuhoor has corroborated these allegations, stating he was aware of flats being sold for bribes. In a letter to President Muizzu, he wrote:

"Many are saying Fazul Rasheed only wants to exploit his position for personal gain, taking money from various parties. I’ve heard that Vinares flats are being allocated based on who pays."

Zuhoor sent his letter to the President on July 1, highlighting concerns about the corruption involving HDC Managing Director Ibrahim Fazul Rasheed.

This week, multiple allegations of corruption and fraud tied to HDC have come to light, including illegal land allocations under the Binveriya scheme, discounted land sales to government officials and MPs, and the embezzlement of funds.

Police and the Anti-Corruption Commission (ACC) have launched investigations. The passports of 20 individuals, including Fazul, HDC board members, Housing Ministry officials, and former government officials, have been held as part of the inquiry.

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