Apartment purchase 5 years ago, suspended Fazeel says

Suspended Mohamed Fazeel Rasheed, brother of former Housing Development Corporation (HDC) Managing Director Fazul Rasheed, has found himself at the center of controversy over the ownership of an apartment he purchased five years ago in Hulhumale’.

Fazeel, the Deputy Managing Director of the Maldives Water and Sewerage Company (MWSC), says he bought the apartment from Batch Construction under a formal agreement signed on November 20, 2017. Despite completing payment in August 2019—through a loan taken from Housing Development Finance Corporation (HDFC) in 2017—the property has yet to be registered in his name.

The situation took a new turn when HDC filed a petition in Civil Court seeking to have the apartment officially registered under Fazeel’s name. In response to growing public interest and allegations surrounding the transaction, Fazeel issued a statement on his X (formerly Twitter) account on Thursday, clarifying the timeline and terms of his purchase.

“I have repeatedly followed up with Batch Construction over the years regarding the delay in transferring ownership,” Fazeel stated. “Although I paid the full amount in 2019, the name change has not been processed. The loan I took for this purpose is still being paid off.”

According to his statement, the apartment in question is part of the Marina View Apartment Complex in Hulhumale’ and was purchased for MVR 1.18 million.

Fazeel also criticised the timing and nature of the allegations against him and his brother Fazul, suggesting that the issue was being used to “inflame the community” and cast suspicion.

It is customary in the Maldives for apartment ownership to be transferred to the buyer upon full payment, making the five-year delay unusual and prompting further questions. The reasons behind Batch Construction’s failure to transfer the title remain unclear.

This case emerges amid broader allegations against Fazul Rasheed, who is accused of misusing his position during his tenure at HDC. Police have launched an investigation into a separate matter in which Mohamed Fazeel was allegedly allocated a plot of land in Hulhumale’ Phase II before he qualified under the previous administration’s land distribution scheme. Authorities claim the land was handed over based on forged documents submitted by HDC.

As the investigation unfolds, both Fazeel and Fazul have faced consequences: Fazeel has been suspended from his position at MWSC, while Fazul resigned as Managing Director of HDC following the public uproar.

Further adding to the controversy, police searched Fazul’s residence and seized MVR 1.4 million in cash. However, the funds were later returned.