The Housing Development Corporation (HDC) has taken back a large plot of land from the prime area in Hulhumale' Phase One given to Mohamed Ali Janah, the Principal Advisor on Trade and Investment to President Dr. Mohamed Muizzu.
About 100,000 square feet from a 300,000 square feet land plot adjacent to the Ooredoo Building in front of Central Park was given in late 2023.
The land was given to Janah to build an upscale shopping mall. The HDC did not disclose the price of the land and the conditions agreed with Janah.
However, an HDC official told Adhadhu today that the land was taken back when Ibrahim Fazul Rasheed was the company's Managing Director.
"The land was confiscated because no money had been paid and no work was being done as mentioned in the agreement. The payment periods were being extended," the official said.
The current management of HDC has also allocated a lot of land in Hulhumale' for commercial use without announcement. Some such lands were rented to various parties with ties to the government on condition of CSR payments or other requirements.
