HDC recovers MVR 226m in outstanding lease payments

5 days ago

The Housing Development Corporation (HDC) has recovered MVR 226 million out of MVR 1.4 billion in outstanding land lease payments, says Ibrahim Fazul Rasheed, the corporation’s managing director. In a meeting with the Parliament’s Public Accounts Committee on Wednesday, Fazul said that various businesses owed the HDC a steep MVR 1.4 billion in lease payments when he took over the management