Hulhumalé plot valued at MVR 9.36 million directly offered for MVR 468,750

The government is reportedly preparing to sell a plot of land in Hulhumalé Phase II, originally acquired for the former administration’s Binveriyaa housing scheme, directly to an individual without a public announcement and at a price well below prevailing market rates.

According to information obtained by Dhauru, the plot had initially been allocated under the Binveriyaa scheme but was later taken back after it was found that the recipient did not meet the eligibility requirement of having been born in Malé.

The land has since remained unallocated.

A memorandum sent by the Housing Department of the Housing Ministry to the ministry’s Finance Department circulated on social media on Tuesday. Dhauru said multiple sources had confirmed the document was authentic.

According to the memorandum, the 1,250-square-foot plot is to be sold to a man named Ahmed Zahir at MVR 375 per square foot, giving the land a total price of MVR 468,750.

The memo seeks arrangements for Zahir to purchase the plot by paying MVR 50,000 in advance, with the remaining amount to be settled over five years.

Dhauru reported that the average selling price of land in Hulhumalé is around MVR 7,500 per square foot. At that rate, a 1,250-square-foot plot would be worth about MVR 9.36 million.

The report said Zahir had previously applied to purchase land during an opportunity opened under former President Maumoon Abdul Gayoom’s administration but had not received a plot.

It said he had continued to raise the matter with successive governments through written submissions and later raised it directly with President Dr Mohamed Muizzu during a neighbourhood meeting held in Galolhu.

According to the report, the President’s Office subsequently instructed the Housing Ministry to make arrangements for the land to be sold to him.

Housing Minister Dr Abdulla Muththalib responded to the issue on X on Tuesday night, saying the circulated office memorandum had been sent only to make arrangements for a payment and that attempts were being made to misrepresent its purpose.

He said the issue involved an elderly man who had spent 23 years seeking redress over what he described as an injustice suffered while serving as a civil servant.

“Some are taking improper advantage of the memo in a way that could cause harm to an elderly man who has spent 23 years seeking to rectify an injustice,” Muththalib said.

The minister said the Housing Ministry would issue a statement on the matter on Wednesday.

Land in Hulhumalé is owned by the Housing Development Corporation. However, land acquired from HDC by the former government for the Binveriyaa scheme was converted into state land.

Dhauru reported that the plot in question would therefore also constitute state land.

Under the Land Act, state land cannot ordinarily be sold directly to an individual without a public announcement. Article 12 provides that applications for land can be submitted after the government publicly announces that plots will be allocated from a specified area, with applicants required to submit the prescribed form to the relevant authority.