HDC Faces MVR 450M Land Allocation Scandal; MD’s Brother Among Recipients

Allegations have surfaced that the Housing Development Corporation (HDC) facilitated the allocation of land worth approximately MVR 450 million to about 50 ineligible individuals under the Binveriya housing scheme. Among recipients is Mohamed Fazeel Rasheed, Deputy Managing Director of MWSC and brother of HDC MD Ibrahim Fazul Rasheed. Leaked documents suggest fraudulent land registries. State Minister Ibrahim Nizam flagged the ineligibility but faced pressure. Police launched an investigation. A fire that destroyed three key ministries in Malé last week destroyed critical documents, raising suspicions.

Allegations have surfaced that the Housing Development Corporation (HDC) facilitated the allocation of land worth approximately MVR 450 million to about 50 ineligible individuals under the Binveriya housing scheme. Among recipients is Mohamed Fazeel Rasheed, Deputy Managing Director of MWSC and brother of HDC MD Ibrahim Fazul Rasheed. Leaked documents suggest fraudulent land registries. State Minister Ibrahim Nizam flagged the ineligibility but faced pressure. Police launched an investigation. A fire that destroyed three key ministries in Malé last week destroyed critical documents, raising suspicions.

Allegations have surfaced that the Housing Development Corporation (HDC) facilitated the allocation of land worth approximately MVR 450 million to about 50 ineligible individuals under the Binveriya housing scheme. Among recipients is Mohamed Fazeel Rasheed, Deputy Managing Director of MWSC and brother of HDC MD Ibrahim Fazul Rasheed. Leaked documents suggest fraudulent land registries. State Minister Ibrahim Nizam flagged the ineligibility but faced pressure. Police launched an investigation. A fire that destroyed three key ministries in Malé last week destroyed critical documents, raising suspicions.

This story involves 1 source and may affect public understanding of land-allocation / housing scheme.