The Maldives Hajj Corporation has cancelled existing deals and agreements to sell apartments at its Niam Residence development to employees, following reports by a local media outlet concerning the allocation of units to former senior executives at discounted prices.
In a statement issued last night, the corporation said all deals completed to date for the sale of Niam Residence apartments to staff would be annulled.
The decision follows investigative reports by online news ‘Dhauru’ detailing the allocation of penthouse units at what the outlet reported were significantly discounted rates to former and current executives of the corporation.
The Hajj Corporation said it is currently reviewing the pricing of units at Niam Residence and preparing to open sales to the general public. The corporation said the move is intended to ensure the project generates maximum financial returns.
“Following the completion of these preparations, sales for units in Niam Residence will be opened to the public,” the corporation said. “As part of this process, a decision has been made to annul all deals executed to date regarding the sale of apartments to staff.”
Niam Residence is a planned 15-storey residential development on Plot No. 22313 in Phase II of Hulhumalé. The Hajj Corporation acquired the plot in 2024, while the Fahi Dhiriulhun Corporation (FDC) was contracted to design the building. However, upon clicking the link for the official press release published on the day the contract was signed, the webpage is no longer available.
The project was announced in early 2024 as a real estate development by the Hajj Corporation. Before management changes introduced in 2026, the corporation had established an internal policy for housing projects that prioritised employees and allowed staff to purchase residential units at discounted rates.
Notably, while the Fahi Dhiriulhun Corporation (FDC) was contracted to undertake the design and structural planning for the 15-storey building, the Niam Residence development is currently absent from the public list of ongoing projects maintained on FDC’s official portfolio.
The news reports prompted public criticism over the allocation of high-value residential units to company executives. Some of the public discussion also drew comparisons with previous controversies surrounding staff housing schemes associated with SIFCO and POLCO.
The Hajj Corporation said Niam Residence is a commercial project intended to strengthen the corporation’s financial position and generate profits. It did not provide details of the revised unit prices or a timeline for the public sale.
