Friday 03 Jul 2026
HDC to be summoned to Parliament's SOE Committee owing to delays in the development of K-Park Residences
There is no issue with the validity of the agreements for the K-Park flats, lawyers representing the victims said Thursday.
After leaving the Henveiru Police Station, lawyer Hassan Falaah told Sun that he met police after the Civil Court ruled that the case could proceed, noting that police are working to verify the validity of the agreements.
“The police have informed us that no such case has been reported, and that an official response will be issued,” Falaah said.
Falaah said the Civil Court has asked the Housing Development Corporation (HDC) to hold a meeting with the victims to resolve the issue. However, he said HDC has made no effort to address the matter.
Documents alleging gross negligence by HDC in its dealings with Korea’s Hanbo Company Limited were revealed a month ago.
The revelations raised serious questions about HDC’s responsibility in the mixed-use residential project in Hulhumale'. The documents accuse HDC of negligence ranging from failing to verify the legal status of the developer to ignoring key deadlines in the agreement.
The K-Park project began on October 9, when HDC signed a development agreement with Korean company Hanbo Company Limited to build mixed-use residential complexes in Hulhumale'.
However, a legal study obtained by Sun shows that HDC neglected to conduct even basic due diligence. Although the developer named in the agreement is “Hanbo Company Limited”, the official stamp affixed to the agreement reads “Hanbo Tech Co. Ltd”.
