The Housing Development Corporation (HDC) has dismissed its Chief Financial Officer (CFO) Abdulla Faid and Chief Business Officer (CBO) Ahmed Yameen following an investigation into alleged irregularities in the allocation of land and flats in Hulhumalé.
HDC confirmed to local media that both officials were dismissed after being suspended in connection with the ongoing inquiry into corruption allegations related to the Binveriya housing scheme. The corporation did not disclose specific allegations against them.
The investigation was launched last year after leaked documents surfaced on December 18, suggesting that land in Hulhumalé was allocated to individuals who were not included in the official list of recipients released in 2023. The allegations involve land being awarded under questionable circumstances, including to the brother of former HDC Managing Director Ibrahim Fazul Rasheed.
In December 2024, 15 HDC employees, including Faid and Yameen, were suspended amid the probe. While some suspensions were lifted earlier this month, both Faid and Yameen remained under investigation. Faid’s dismissal followed the conclusion of his probation period, with HDC determining his performance during that time.
The case also led to the suspension and subsequent resignation of former HDC Managing Director Fazul Rasheed. Allegations include land sales at below-market rates and the allocation of flats to individuals who had been pre-selected as winners.
Authorities continue to investigate the matter as scrutiny over public land distribution in Hulhumalé remains high.
