Housing Development Corporation (HDC) has repossessed the land in Hulhumalé where Riveli Beach Club and Restaurant operated after terminating its agreement with Solaris Hospitality Pvt Ltd over prolonged non-payment of rent.

In an announcement today, HDC said the agreement for Hulhumalé Lot 10877 had been cancelled and the land repossessed with immediate effect.

The corporation said the decision followed an extended period of unpaid rent. However, it did not disclose the outstanding amount.

HDC said the action was taken in accordance with the agreement’s procedures, after issuing the required notices and providing sufficient opportunities to settle the dues.

The company has also been prohibited from conducting any business activities or providing services on the plot.

HDC said the decision followed efforts to provide fair opportunities to businesses operating in Hulhumalé, reiterating its commitment to supporting local businesses.