Ex-HDC chief's suspended brother buys Hulhumale flat
Former HDC Managing Director Fazul is under investigation in relation to the sale of several land plots during his tenure.
The Housing Development Corporation (HDC) has filed a case at the Civil Court seeking to register a Hulhumalé apartment under the name of Mohamed Fazeel Rasheed, the suspended Deputy Managing Director of Maldives Water and Sewerage Company (MWSC) and brother of former HDC Managing Director Ibrahim Fazul Rasheed.
The court has scheduled a hearing on the matter for Tuesday.
According to information submitted to the court and confirmed by reliable sources, Fazeel purchased an apartment in the Marina View Apartment Complex developed by Batch Construction in Hulhumalé. The flat was purchased for MVR 1.18 million.
Documents show that Fazeel paid half the amount using personal funds, while the remaining half was financed through a housing loan from the Housing Development Finance Corporation (HDFC).
Fazeel is also being investigated by police in a separate case concerning the allocation of land in Phase II of Hulhumalé under the previous government’s landowner scheme. Authorities allege that the land was transferred to Fazeel using falsified documentation submitted by HDC.
Following the commencement of the investigation, Fazeel was suspended from his position at MWSC. He remains under suspension.
His brother, former HDC Managing Director Ibrahim Fazul Rasheed, is under investigation in relation to the sale of several land plots during his tenure. Police previously searched Fazul’s residence and seized MVR 1.4 million in cash, which was later returned. Investigations are ongoing.
