Union: Govt needs to run independent audit on K-Park, provide a solution

The government needs to conduct an independent audit into the K-Park Residences in Hulhumale’, says the K-Park Union, calling on authorities to provide some sort of solution to the people who purchased apartments from the condominium, which remains unfinished nearly a decade since its launch.

The K-Park project was launched by Hanbo in November 2016. But the condominium has remained unfinished, with the project embroiled in scandal, with its minority shareholder convicted of defrauding dozens of people who paid booking fees for apartments at the K-Park Residences.

At a press conference on Thursday afternoon by the K-Park Union, an advocacy group for people who purchased apartments from the condominium, attorney-at-law and former parliamentary representative Ali Hussain said that the people who purchased apartments from K-Park are all Maldivian citizens, some of whom are in dire need for housing.

He said that the government has provided solutions to people who purchased housing in other projects, and that the people who purchased from K-Park also deserve a solution.

Ali Hussain noted that the land on which the K-Park is being developed is owned by the state, and that the state can navigate the many issues linked to the project, and find a solution.

He said that there’s enough information on the case available from institutions such as the police, the Prosecutor General’s Office and the Criminal Court, and that the government must conduct an independent audit into K-Park.

“They need to conduct an audit, and then find a way for the people who paid to get their apartments. They need to talk to these parties and find some sort of solution to this,” he said.

The K-Park Union has asked that in the event that they are unable to get their apartments in K-Park, the government give them priority in its public housing schemes.

This is similar to what the government did for people who purchased apartments from SeaLife, another housing project that ended up in scandal.

Hanbo and Housing Development Corporation (HDC) reported the allegations of fraud involving K-Park Residences to the police in 2023, naming Hanbo’s then-minority shareholder Hassan Mamdhooh (Manday) as the prime suspect in the case.

Manday and his associate Jaishan Saeed were tried for over 200 charges, collectively, for defrauding over 50 people.

In December 2025, Manday received a lengthy sentence of 397 years in prison, while Jaishan received 159 years.