SJ Company has purchased a plot of land in Hulhumalé Phase 2 for MVR 15 million.

The case regarding this land was submitted to the Civil Court on the first day of last month.

In today's ruling, the Civil Court stated that SJ Company bought a 2,538 square foot plot of land in Hulhumalé Phase 2. The Housing Development Corporation (HDC) sold the land to SJ for MVR 13.96 million. With MVR 1.1 million in GST, the total price was MVR 15 million.

HDC sold lot number 20317 in Hulhumalé to SJ. This is a beachside plot in the second phase. The land was sold at a rate of approximately MVR 6,000 per square foot.

As SJ Company has paid the full amount for the land to HDC, the court has ruled that SJ Company is the owner of the land and concluded the case.

While SJ Company has bought this land in Hulhumalé Phase 2, HDC has also given the company the land adjacent to SJ Mall.

When questioned by the Parliament's Public Accounts Committee about giving that land to SJ Company, HDC's former Managing Director Fazul Rasheed said that the company was given the land next to SJ Mall after they submitted a proposal to HDC requesting it.

Fazul also stated that the land next to SJ Mall was sold to the company on the condition that they build huts worth MVR 20 million in the Hulhumalé Ruhgandu area as part of their CSR.

Despite repeated questions from members about the price at which the land was sold to SJ, Fazul did not disclose the selling price.