It has been revealed today that out of the lands leased by Housing Development Corporation (HDC) to businesses, more than 1.2 billion rufiyaa in rent is due to HDC, including from large, well-known business companies. HDC has shared a list of unpaid land rent with the Parliament’s Public Accounts Committee.
These lands are leased from Hulhumale, Thilafushi, and Gulhifalhu. The list shows that companies owe millions to HDC. This is rent owed by 18 companies and two individuals. Some of these companies have leased two or three plots of land.
Major companies that owe money to HDC include:
1. Jausa Investment Private Limited
2. HPH Development Private Limited
3. Island Expert Private Limited
4. Hanbo Company Limited
5. Rainbow Mega Developers Private Limited
6. Yacht Tours Maldives
7. Ensis Fisheries Private Limited
8. Amin Construction Private
9. Water Front Hotel and Lesha Private Limited
10. Rainbow Enterprises Limited
11. Huravali Beach Resort Investment Private Limited
12. VAM Company Private Limited
13. Mala High Rising Construction Limited
14. Mega Infra Projects Private Limited
15. Heavy Load Private Limited
16. Jausa Property Development Maldives
17. Litus Maldives Private Limited
18. Amin Buildware Private Limited
Speaking at the Public Accounts Committee, the committee’s Deputy Chair and MP for Eydhafushi constituency, Ahmed Saleem (Redwave Saleem), said that the 1.2 billion rufiyaa owed to HDC by various parties is a loss to the state. Saleem said he is not aware of any efforts by HDC to recover these funds. MP for Baarah constituency, Ibrahim Shujau, has proposed to clarify through HDC what efforts have been made to recover this money. He said it is concerning that large companies have not paid these amounts.
“I want want to highlight that there are actively operating, well-known large companies in the Maldives that have not paid millions in rent. We talk about government companies going bankrupt. Won’t they go bankrupt when large plots of land are leased and rent is not paid?” Shujau said.
