A 69,912.28 square feet plot of land in Hulhumalé, registered under the name of Housing Development Corporation (HDC), has been sold to the Maldives National University (MNU) for MVR 113,257,893.60.

In its ruling issued yesterday regarding the transaction, the Civil Court stated that the land sold to MNU was owned by HDC, as evidenced by the "Land Register." The ruling further noted that no other party had sought ownership of the land, nor had any complaints been submitted regarding it.

The ruling stated that the agreement to sell the land was signed between HDC and MNU on August 23, 2023. The agreement was named "Agreement in Respect of Institution Development Building in 2023/70 Hulhumalé." The ruling also specified that the agreed price for the sale of the land in the agreement was MVR 113,257,893.60.

The ruling stated that documents confirm MNU agreed to purchase the land at that price and has completed the payment to HDC.

Therefore, the Civil Court ruled that MNU is now the owner of the land.