Planning Ministry disclosures has revealed that North Fuvahmulah Constituency MP Mohamed Rasheed’s company is the recipient of a large housing project, worth MVR 705 million (US$ 45.9 million).
MP Rasheed’s company is Dhonbeys Pvt Ltd.
Dhiyares had petitioned Ministry of Housing for disclosure on housing schemes across the atolls, including the companies and the costs of the projects.
Based on information released, a significant amount of housing projects had been awarded to Dhonbeys Pvt Ltd. Five housing projects were tasked to the company, with the value passing MVR 705 million (US$ 45.9 million).
One of the projects assigned in the construction of 105 housing units in Kulhudhuffushi city in HaaDhaal atoll. This project amounts to MVR 53,904,637.50 (US$ 3,512,038.07).
Another project is the construction of 100 housing units in Hanimaadhoo Island, amounting to MVR 79,393,199.70 (US$ 3,512,038.07). Dhonbeys was also tasked with constructing 50 housing units in Vilingili Island in GaafAlif atoll. The two-story row house project is expected to cost MVR 48,164,794.10 (US$ 3,138,071.20).
A 100-housing unit project in Hinnavaru Island is billed for MVR 83,807,840 (US$ 5,460,315.44). This project involves 50 units of one-story buildings and 50 units of two-story buildings.
The most expensive project tasked is the Kulhudhuffushi housing project. under this project, 400 housing units are to be built. This project has a price tag of MVR 439,991,160 (US$ 28,666,656.05).
The combined value of all projects total to MVR 705,261,631. This is equivalent to US$ 45,949,769.99. Industry experts have claimed this is direct corruption.
This year alone three projects were awarded to Dhombeys, with two projects in 2021. No projects were awarded to the company in 2019.
MP Rasheed is a close associate of Minister of Economic Development Fayyaz Ismail. He had backed Minister Fayyaz in MDP’s internal elections. His company has been the recipient on many government contracts since the administration was sworn in.
MP Rasheed had advocated to award President Ibrahim Mohamed Solih the Party ticket without holding a primary.