The government is preparing to terminate the housing project agreements previously awarded to Donbez company by the former administration due to a lack of progress, and is set to resume the work under a new framework.
The Minister of Housing, Land, and Urban Development, Dr. Abdulla Muththalib, stated that despite substantial advance payments being released for these projects, physical progress has been insufficient. The Minister highlighted that recovering the advance funds poses significant challenges because the previous government had accepted “conditional bonds” as security. Following the cancellation of these projects, which are valued at a total of MVR 705 million, the government’s current objective is to restart and advance the work through an alternative arrangement.
