It has been revealed that ruling People's National Congress (PNC) parliamentary group leader Ibrahim Falah recently purchased a beach-front property in Hulhumale' for MVR 28 million.
The Housing Development Corporation (HDC) filed a petition in the Civil Court to transfer ownership of the land to Falah. The court concluded the matter on August 3.
Falah purchased Lot No. 22173 in Hulhumale'. It is a 3,250 square feet beach front plot in Hulhumale' Phase 2. He paid MVR 28,782,000 to HDC for the land.
This means a square foot of land was sold for MVR 8,856.
Falah purchased Lot No. 22173 in Hulhumale'.
Falah had four plots of land in his name. They are three plots in Raa Innamaadhoo and one plot in Male'.
Falah said he spent MVR 4 million for the plot in Male', but did not disclose the amounts he spent for the plots in Innamaadhoo.
In response to the coverage on his financial statement, the ruling party MP for Inguraidhoo constituency announced the recent purchase from Hulhumale' and more land he acquired from Innamaadhoo.
"There are three plots in the process of changing the registry and the land bought in Hulhumale' is also in the process of changing the registry," he posted on X.
Falah's land properties
- Maafannu Asurukuri in Male' - MVR 4 million
- Hulhumale' plot - MVR 28 million
- Faiy in Raa Innamaadhoo - value undisclosed
- Asuruhiya in Raa Innamaadhoo - value undisclosed
- Falak in Raa Innamaadhoo - free land from the state for housing needs
- Innamaadhoo plot - value undisclosed
- Innamaadhoo plot - value undisclosed
- Innamaadhoo plot - value undisclosed
According to Falah's financial statements, he bought the land in Male' in 2017. He got the free land in Innamaadhoo in 2004. He purchased two more plots in Innamaadhoo in 2020 and 2022.
Falah earns MVR 900,000 annually as a salary from the People's Majlis. He also earned MVR 900,000 as income from his businesses. He also claimed to have earned MVR 3.2 million from rent. This means he had a total income of MVR 5,076,000 in one year.
