What's behind Villa Shipping's land purchase from Thilafushi?
In 2008, Villa Shipping bought large tracts of land from Hulhumale Phase I. It is the large block to the east adjacent to the Platinum Residence.
By
Moosa Latheef
Jumhooree Party(JP) senior spokesman Ali Solih was not satisfied with the news published by some media outlets based on Thursday's verdict in a Civil Court case. He went after journalists. He used one of the most widely used lines, accusing media outlets of trying to instigate, with ill intent, a "strong sense of public hatred towards Gasim Ibrahim".
HDC, now Urbanco, filed a petition in the Civil Court in March stating that Villa Shipping had paid MVR 228.7 million for two plots located in the industrial island of K. Thilafushi.
The size of the two plots is more than half a million square feet. The size of one of the plots is 393,212 square feet. The other plot has 1,56,693 square feet.
On May 11, the Civil Court concluded that the land was owned by Villa Shipping.
Ali Solih's tweet contained other information about the transaction that is unknown to the public. However, he concluded it all by saying that "this is not Villa's comment". So he shared the information he had received but not as official comments from Villa Shipping.
Atoll Times could not attain an official word from Villa Shipping or Urbanco on the transaction. Therefore, it should be safe to assume that some of the information shared by Ali Solih is true. The first is that JP is Gasim's party and the personal information that the party spokesperson makes public about Villa businesses should contain some kind of truth. If there was information in Solih’s tweet on Friday that Gasim was not satisfied about, Ali Solih's tweet would now have been deleted.
Prominent land in Hulhumale exchanged
In 2008, Villa Shipping bought large tracts of land from Hulhumale Phase I. It is the large block to the east adjacent to the Platinum Residence. Villa Shipping had completed payments for them as well.
During former President Abdulla Yameen Abdul Gayoom's regime, the land was seized as a 'punishment' for Gasim coming out against him. It was the land that was sold for construction of high-end apartments, and the fact that it had not been done for 10 years after that was the reason why the then HDC seized the land.
When President Ibrahim Mohamed Solih came to power with the backing of Gasim, the land was returned to Villa Shipping.
Thursday's verdict shows that two plots in Thilafushi were owned by Villa Shipping as they had paid MVR 228.7 million for it. It did not say whether it was the price paid at the time for the land purchased by Villa Shipping from Hulhumale or whether it was a land exchange transaction. Therefore, those journalist that had written the story on the verdict will know simply that these are two plots purchased by Villa Shipping.
However, Ali Solih tweeted that it was an exchange because others were interested in investing in land in Hulhumale. He also said that they had purchased the two plots of land from Thilafushi where Villa cement and Villa gas businesses were already established.
"In lieu of the services already provided to the people at affordable prices by Villa, and since the investment made in the two lands may have to be dismantled or relocated or shifted elsewhere, Villa had chosen to give up the prime land in Hulhumale, so that their services can be provided to the people without any disruptions and in a sustainable manner," Solih wrote.
Atoll Times also learned that there is not much time for the expiration on the lease of the two lands leased by Villa Shipping in Thilafushi.
The Civil Court's ruling shows that Villa Shipping bought two plots of land from Thilafushi. Neither Urbanco nor Villa Shipping has explained to the public what was behind it.
The value of land purchased by Villa Shipping from Hulhumale will be much higher at present. Leaving these lands to Urbanco and acquiring lands from Thilafushi is not an issue from a commercial point of view. However, being state property, the public needs to be fully informed on such transactions.
When journalists wrote the news without such information, people like Ali Solih would have a completely different interpretation of it.
Gasim, a business tycoon, has been acquiring lagoons, islands and land plots. So, if they do not wish to have news published with half the information, it's very important to be transparent with the decisions taken with the consent of the two companies that are behind such transactions. Then there will be very little space for the media to spread the kind of hatred that Ali Solih believes in.
