HDC board members’ bid for company project sparks concern

On-going development of flats in Hulhumale. PHOTO/HDC

On-going development of flats in Hulhumale. PHOTO/HDC

Two Housing Development Corporation (HDC) board members bidding for the project to develop middle class flats in seven land plots of reclaimed suburb Hulhumale has sparked concern from rival companies.

The corporation had said any firm that has previously developed flats or row houses in Hulhumale, and any company that is a shareholder of such a firm, are not eligible to submit proposals for this bid. HDC’s new rule is an effort “to offer the opportunity to companies entering this field for the first time,” according to an official.

As many as 24 companies have reportedly put up bids for the project and one concerned party on condition of anonymity questioned the fairness of the bid evaluation process if two of HDC’s own board members had bid for the project.

“I seriously doubt whether the bids can be evaluated fairly if those two members had also bid for the project. So the bids must now be evaluated by people beyond their [board members] influence,” the concerned company official told Mihaaru.

HDC Chairman Fuad Gasim said he was not aware that two of his board members had bid for the project.

Though that there was nothing “legally wrong” Gasim assured that the board does not influence or intervene in bid evaluations.

The land plots up for flat development in this round are seven plots from Neighbourhood 1 measuring between 2,600 and 2,713 square feet in area. The plots are offered at a rate of MVR 1,200 per square foot. The bid winner is to pay MVR 1,200 per square foot as Development Sales Right to HDC and complete the flats within two years after approving the flats’ detailed drawings.

 

1 Comment on "HDC board members’ bid for company project sparks concern"

  1. Corruption and injustice in everything

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