The government has purchased 17 land plots from Hulhumale’ for MVR 878 million.
Sun has learned that the land plots purchased by the government are the locations at which social housing units are being developed by Fahi Dhirulhun Corporation (FDC). The project funded by a loan withdrawn from India’s EXIM Bank was contracted to two Indian companies; JMC Projects and National Buildings Construction Company (NBCC).
An official from Housing Development Corporation (HDC) confirmed the purchase to Sun.
A Civil Court judgment publicized on Tuesday reads that the government has paid over MVR 878 million for 17 land plots in Hulhumale’ under HDC’s name. The land plots purchased by the government range between 15,000 square feet and 60,000 square feet.