Maldives Hajj Corporation has decided to cancel all transactions made so far for the sale of apartments to its employees at Niam Residences in Hulhumalé.

In a statement, the Corporation said the decision was made as part of efforts to improve its financial position and maximise returns from the luxury housing project.

The Corporation said it is preparing to set apartment prices and open sales to the public, with the aim of securing the highest possible return from each unit. Sales are expected to begin once the preparations are complete.

Niam Residences is being developed on Plot 22313 in Hulhumalé Phase 2. The 15-storey project was first announced in 2024, and the Corporation acquired the land for its development that year. The project’s design was assigned to Fahi Dhiriulhun Corporation (FDC).