Motion on 99-year foreign lease of Thilafushi land rejected
Maldivian businessmen living in the Male area are already facing a shortage of land.
An emergency motion moved by the opposition against the allotment of 99-year land to foreigners in Thilafushi industrial area was rejected in Tuesday's parliament sitting.
The Housing Development Corporation (HDC) released the details of how to sell the land on an auction basis so that foreigners can also buy land from Thilafushi. According to HDC, land in Thilafushi 'Zone A' will be sold first on the basis of auction.
Here is the procedure for sale of land on auction basis:
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Bids from a private person or company (including locals and foreigners)
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Winning bidders should own land if they are local or local company
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Allotment of land for 99 years if the winning bidder is a foreigner or a foreign company
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The lowest bid price is MVR 1,700 per sq ft.
Maduvvari MP Adam Shareef, in his petition, said that while Maldivian businessmen living in the Male area are already facing a shortage of land, the sale of land to expatriates for 99 years through auction will have an adverse impact on the business community and the country's economy.
He said:
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Such land allotment will result in foreign entrepreneurs and local entrepreneurs competing and the opportunities for business for Maldivians will be curtailed
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It will open the door for the power to control local businesses goes in the hands of foreigners
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Demands to stop allotting land to foreigners in such a manner
There was no time for a debate on the issue raised by Adam Shareef. In the vote on admitting the case:
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Nine MPs voted for the debate
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36 MPs voted against
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