The Housing Development Corporation (HDC) has denied allegations that it sold land from Hulhumale for residential use in violation of established bid policies.
A press release issued by HDC said residential land plots were sold though an open bidding system following public announcement. While the first stage of land purchase is the requirement to submit an Expression of Interest (EOI) for the designated plot, those who submit EOIs are then invited to submit bids. The land will be sold to the highest bidder at the end of the bidding period.
HDC further explained that EOIs cannot be submitted for a price lower than the base rate announced. The base rate is established through endorsement by the company’s board of directors, the corporation said.
The details of some land plots sold by HDC were included in the press release. The statement urged the public not to circulate false information about the corporation’s land sales.
