Tuesday 25th Jun 2024
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Member Ali Azim

Azim Reveals He Owns a Resort

Leader of Maldives Democratic Party’s (MDP) parliamentary group and parliament representative for Henveiru-Central constituency Ali Azim has revealed that he owns a resort.
During a Clubhouse forum on Monday night, Azim stated that he owns and has ten percent of shares in Palm Beach Resort.
The four-star resort in Madhiriguraidhoo, Lhaviyani Atoll was previously run by Ibrahim Ali Manik. However, failure to repay the resort’s mortgage resulted in the resort being auctioned by the State Bank of India. The resort was purchased by former Male’ Mayor Sarangu Adam Manik.
“Palm Beach Resort on Madhiriguraidhoo is one of my businesses”, said Azim.
Adam Manik and Azim are business partners. Azim on Monday night revealed that he owns ten percent of shares.
Azim’s financial statement published last year showed that he did not even have MVR 1 million. It is unclear how he managed to acquire a resort soon after. While banks have not been lending for resort purchases during COVID-19, Azim’s financial statement also shows that he is not involved in any other business.