Resolution Submitted to Seek MPs’ Views on Long-Stalled K Park Flats

A resolution has been submitted to Parliament to find out the views of Members of Parliament on the long-standing unresolved issues surrounding the K-Park Residence housing project in Hulhumalé. 

The resolution, sponsored by Mohamed Ibrahim (Kudu), MP for North Galolhu, highlights that more than a hundred buyers have suffered for years due to the project’s prolonged delays and remain excluded from government social housing schemes. It calls for government intervention to finally address the situation.

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The K Park Residence project began nearly a decade ago as a partnership between Hanbo Maldives Pvt Ltd and Hanbo Korea, aimed at developing luxury apartments. Despite strong buyer interest, the project came to a halt following serious allegations of fraud and mismanagement involving the local developer.

Hassan Mamdhooh, director of Hanbo Maldives, now faces over 100 criminal charges, including forgery and misrepresentation. Prosecutors allege he forged the signature of Hanbo Korea’s majority shareholder, Jin Shi Hu, on apartment sale agreements and diverted the funds collected from buyers. As a result, the project has remained stalled, and those who purchased flats have been left without homes and ineligible for other housing assistance.

During the debate in Parliament, MP Mohamed Nazim of Maafannu Uthuru noted that many of his constituents are among those affected and criticized previous governments for failing to deliver a solution. He pointed to the example of another halted housing project, “The Gardens” by Jausa Construction, which was eventually revived after the Housing Development Corporation (HDC) reassigned it to his family’s company, Rasheed Carpentry and Construction (RCC). He suggested that a similar approach could help restart the K Park project.

Ruling party MPs argued that past administrations, including the former Maldivian Democratic Party (MDP) government, had opportunities to resolve the issue but did not act decisively. Opposition MPs, however, responded that legal action against the project’s director was initiated under the MDP government and stressed that the focus should now be on delivering justice and relief for buyers rather than shifting blame.

The debate on the resolution did not conclude during Monday’s sitting, as Speaker Abdul Raheem Abdullah adjourned the session at around 11:15 am.