Nasandhura developer defaults on local supplier payments

NPH, which is developing high-end apartments in the name of Aquavita in Hulhumale and on the land where the former Nasandhura Palace Hotel was located, is being pressed with issues of non-payment of dues to several Maldivian companies.

Work on Nassandhura and Aquavita apartments has also slowed down and suppliers are now filing civil suits against NPH for not paying their dues for services acquired from them.

NPH has been ordered to pay in some such cases since October last year, but the companies have approached the court again to enforce the judgements as they have not been paid still.

"Even the NPH agreed on the payment orders, but it did not give any money. It's been like this for months now. The company is not even attending court hearings now," an attorney representing a local company, which had approached the court seeking payment from NPH, told Atoll Times on Tuesday on condition of anonymity.

"It's a huge loss to have continued debt like this. The company is not responding at all now."

Atoll Times has ascertained the amount of money involved in civil court cases involving NPH is more than MVR 6 million. Atoll Times is convinced that some other companies are still trying to bring cases to court against NPH for the same reasons.

NPH is:

Though the company started the Nasandhura project and Aquavita apartments projects years ago, they have not progressed at a reasonable pace. Flat buyers had earlier complained about the delay.

When contacted, NPH could not be reached for comment.