Ex-Hajj Corporation officials reserved Niam Residence units at staff rates

Penthouse units in Maldives Hajj Corporation’s Niam Residence real estate project were reserved by members of the company’s former management at prices offered under an employee scheme, according to information obtained by Dhauru.

Hajj Corporation announced plans for a real estate project in early 2024 and purchased land in Hulhumalé Phase II for the development later that year.

The design work for the project was assigned to Fahi Dhiriulhun Corporation (FDC). Hajj Corporation has not publicly released further details about the project.

However, announcements issued by FDC in connection with the development show that Niam Residence is planned as a 15-storey building on plot number 22313.

Former Hajj Corporation Managing Director Mohamed Shakeel was previously quoted in media reports as saying apartments in the development would be offered for public sale.

However, a source familiar with the company’s apartment allocation policy told Dhauru that the policy provides for units to be sold to permanent Hajj Corporation employees who have completed their probationary period, members of the company’s board of directors, and contract employees selected by the Privatisation and Corporatisation Board (PCB) or the Hajj Corporation board and management.

Niam Residence also includes penthouses, which are typically priced differently from other apartment types in real estate developments.

According to the source, however, the prices set for the penthouses at Niam Residence do not differ substantially from those of other units, allowing them to be purchased at comparatively low prices.

The source said the penthouses had been reserved by senior officials of the company, including individuals who are no longer part of its management.

According to information provided by the source, a booking fee of MVR 50,000 was charged, followed by monthly payments of MVR 2,500 from the construction stage until the units are handed over. The monthly payments would be made over a two-year period.

Hajj Corporation Managing Director Mohamed Firuzul Abdulla Khaleel confirmed to Dhauru that four units on the top floor had been reserved by employees.

“The four units on the top floor have been reserved by employees. They include both categories [current and former employees],” Firuzul said.

However, he said it had not yet been determined which of the units would be designated as penthouses.

Penthouses in residential developments are generally located on the uppermost floors.

Shakeel resigned as managing director of Hajj Corporation in June 2026 and is now President of the Elections Commission.

It has previously emerged that Shakeel and three other members of Hajj Corporation’s management were involved in a private company named Shine Bright.

They were Mohamed Shakeel, then managing director of Hajj Corporation; Mohamed Shihaab, deputy managing director; Najeel Ahmed, chief operating officer; and Riffath Abdulla, head of legal.

Shihaab remains deputy managing director of Hajj Corporation. Information obtained by Dhauru indicates that Shakeel, Shihaab and Najeel reserved penthouses while they were working at the corporation.

Firuzul also provided information on the policy governing Hajj Corporation’s housing projects. He said it was a general policy setting out how the company should proceed when undertaking such developments and had been formulated before he became managing director.

The policy includes provisions such as selling housing units developed by the corporation without interest, he said.

“There is also a special scheme for employees. It is intended to give employees priority in projects of this kind,” Firuzul said.

He rejected claims that apartments could not be repossessed after being allocated. He said units would not be repossessed as long as payments were made as required, but the policy did not prevent the corporation from taking back a unit if payments remained outstanding beyond a specified period.

Firuzul also confirmed that the policy allows units to be sold to Hajj Corporation employees at special prices.

Under the arrangement, the company would reduce its profit margin on units sold to employees, while the underlying cost of the unit would remain unchanged, he said.

Firuzul said the final sale prices for units across the Niam Residence project have not yet been determined and that work to set the prices is ongoing.