Hajj Corporation cancels staff deals for apartments
Under the arrangement, penthouses at Niam Residence were reserved by senior employees, including some who subsequently left the corporation.
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Maldives Hajj Corporation has decided to cancel agreements to sell apartments at its Niam Residence development to employees, a day after a report revealed that penthouses in the project had been reserved by senior and former officials at discounted prices.
The corporation announced the decision in a statement issued on Wednesday night, saying all transactions made so far to sell apartments to employees would be cancelled.
Niam Residence is a housing development being undertaken by Hajj Corporation as part of its move into real estate. The corporation announced plans for the project in early 2024 and later purchased land in Hulhumalé Phase II.
The 15-storey building is planned for plot number 22313 in Hulhumalé Phase II. Fahi Dhiriulhun Corporation (FDC) was commissioned to design the project.
Hajj Corporation had previously established general guidelines for housing projects undertaken by the company. The policy, formulated before changes were made to the corporation's management in the middle of this year, included provisions giving employees priority and allowing them to purchase units at preferential prices.
Under the arrangement, penthouses at Niam Residence were reserved by senior employees, including some who subsequently left the corporation.
Dhauru reported that those who had reserved penthouses included former Hajj Corporation Managing Director Mohamed Shakeel, who is now President of the Elections Commission; former Chief Operating Officer Najeel Ahmed; and Mohamed Shihaab, who continues to serve as the corporation's Deputy Managing Director.
Penthouses are generally among the highest-priced units in residential developments. The report raised questions over senior officials being able to acquire such units at reduced prices under a policy established by the corporation.
Following publication of the report, the arrangement drew criticism, including comparisons with previous allocations of flats associated with SIFCO and POLCO housing schemes.
In its statement, Hajj Corporation said it was now working to determine prices and prepare the Niam Residence apartments for sale in a manner that would maximise returns to the company from each unit.
"Once these processes are completed, the units at Niam Residence will be opened for sale to the public," the corporation said.
It added: "As part of this process, it has been decided to cancel all transactions made to date for the sale of apartments to employees."
Niam Residence is part of Hajj Corporation's efforts to improve its financial position and generate additional revenue.
