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HDC building. (Atoll Times File Photo)

BML acquires land in Hulhumalé for MVR 153.9 million

The judgment confirmed that the Housing Development Corporation (HDC) sold 28,507 square feet of land at Lot No. 11824 to BML.

31 August 2025

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The Bank of Maldives (BML) has purchased land in Hulhumalé for MVR 153.9 million, according to a Civil Court ruling on Wednesday.

The judgment confirmed that the Housing Development Corporation (HDC) sold 28,507 square feet of land at Lot No. 11824 to BML. The sum includes Goods and Services Tax (GST).

The court stated that BML had paid the full amount to HDC and that all requirements of the transaction had been met.

As a result, the judgment declared that ownership of the land previously registered under HDC has been transferred to BML.

Business Bank of Maldives

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