Housing Development Corporation Limited (HDC) has accumulated a total debt of 14 billion rufiyaa as per an announcement by the company.
During a meeting of the Parliament’s State and Enterprises Committee, the Deputy Managing Director of HDC explained that the 14 billion rufiyaa was taken as loans for several projects over the years.
He added that the loan repayment is being carried out with the State Budget as the current Hulhumale’ phase 2 projects do not generate any income.
He further stated that HDC had also handed over a project to remove a sand dune in the water park land plot in Hulhumale’ for 17 million rufiyaa.
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