HDC cancels agreement, repossesses Riveli Restaurant plot over unpaid rent

The Housing Development Corporation (HDC) has repossessed the land occupied by Riveli Beach Club and Restaurant in Hulhumalé following the termination of its business agreement over unpaid rent.

In an announcement on Monday, HDC stated that the commercial agreement with Solaris Hospitality Private Limited for operating a business on Hulhumalé Lot No. 10877 had been terminated. As such, the corporation has repossessed the premises, effective Monday.

HDC emphasized that Solaris Hospitality Private Limited is no longer permitted to conduct any business transactions or provide services on the premises.

According to HDC, the decision followed an extended period of unpaid rent. The corporation stated that all required notices had been issued and multiple opportunities to settle the outstanding payments had been provided in accordance with the agreement.

HDC noted that the measure was taken after the company had been granted the maximum possible flexibility. The corporation reiterated its commitment to providing favorable opportunities for businesses operating in Hulhumalé.

Located in the Ruhgandu 1 area of Hulhumalé, Riveli Beach Club and Restaurant is a popular establishment known for its scenic beachfront views. Featuring both indoor and outdoor seating, the venue was frequently used for romantic dinners and wedding receptions.