The Civil Court has ordered the seizure of funds in bank accounts held by Jaah Investment Pvt Ltd, the company awarded the contract to develop The Gardens apartment complex near Central Park in Hulhumale’. The order was issued by the Hulhumale’ Division of the Civil Court on Thursday.
The court directed the order to the Bank of Maldives, Maldives Islamic Bank, Mauritius Commercial Bank, Habib Bank Limited, Bank of Ceylon, State Bank of India and Commercial Bank of Maldives. According to the Civil Court order, if Jaah Investment holds any bank accounts at any of these banks, the details of the accounts and available balances must be reported to the court by 12:00pm on 22 April.
Jaah Investment was awarded The Gardens project in 2017, during the administration of President Abdullah Yameen. The Housing Development Corporation (HDC) terminated the agreement with the company on April 16 this year, after giving the company several opportunities to complete the project.
Jaah Investment has claimed for years that 95 percent of the project is complete. However, buyers have not been allowed to view the apartments. Many have expressed concern over the delay.
The Gardens project includes 83 luxury units, including 27 suites and 54 villas.
