MP Saeed: Whole Maldives mortgaged by current administration

People’s National Congress’ Deputy Leader, Maavah MP Mohamed Saeed, on Wednesday, accused the current administration of selling all lagoons near Male’ to foreign parties and mortgaging the whole of Maldives.

Debating on the resolution submitted urging to find a quick solution to the issue of the government being subjected to rent buildings from private parties at large expenses for government offices and authorities at Wednesday’s parliamentary sitting – MP Saeed called on the government to immediately stop selling land to foreign parties.

Underscoring this to be the first time land is sold from the Maldives to foreign parties in the history of the island nation – MP Saeed said that land was scarce in the Maldives, with the shortage of land being a pertinent problem especially in the Male’ area. While land from Thilafushi is sold at a rate of MVR 1,700 per square foot, Saeed expressed concern claiming the foreign parties included two Indian companies.

“Iskandar School has been mortgaged. Dharumavantha Hospital has been mortgaged. Olympus has been mortgaged. All tangible properties in the Maldives and the people’s assets have been mortgaged. Land that has not yet been reclaimed is being sold. Thilafushi, Giraavaru and any lagoon existing near Male’ is being sold,” he said.

Speaking further MP Saeed said that while state debt has climbed up to MVR 114 billion – the presidential address, which briefs on the current situation of Maldives, did not mention the debt at all.

While MP Saeed has expressed his stance against leasing land from Thilafushi to foreigners – an emergency motion submitted by Maduvvari MP Adam Shareef to the Parliament on Tuesday on the matter was dismissed.

HDC released its policy on issuance of land from the industrial area in Thilafushi last week under which Maldivians can own the land, while foreigners can be leased the land for up to 99 years. The minimum bidding rate is MVR 1,700 per square foot. Land leased in this regard would measure between 2,500 square feet and 35,000 square feet.