Tourism ministry seizes resort island over non-payment
Fazul resigned from his position at HDC amid allegations of embezzlement related to the allocation of land to his brother.
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Tourism ministry has terminated the agreement for AA. Alikoirah that was allocated to Maziya Services, a company reportedly linked to former Housing Development Corporation (HDC) Managing Director Ibrahim Fazul Rasheed.
Maziya Services received an award letter from the tourism ministry for the development of a resort on the island, with an acquisition cost set at $1.2 million (approximately MVR 18.5 million). The award letter was issued on June 26.
Sources indicate that the license granted to Maziya Services was revoked due to non-payment of the acquisition cost. While the ministry had extended the payment deadline previously, the extension was canceled following non-compliance after the 10th of last month.
Although Fazul does not hold an ownership stake in Maziya Services, it is understood that he has financial ties to the company.
Fazul resigned from his position at HDC amid allegations of embezzlement related to the allocation of land to his brother, Mohamed Fazeel Rasheed.
