Falah acquires prime beachfront land in Hulhumalé for MVR 28m
Questions continue to mount over how such elite land deals are financed and facilitated behind closed doors
The plot MP Falah bought from Hulhumalé Phase II for MVR 28 million.
A Civil Court ruling has confirmed that Ibrahim Falah, the Parliamentary Group leader of the main ruling People's National Congress (PNC), has acquired a high-value beachfront plot in Hulhumalé Phase II for a total of MVR 28.78 million, raising serious public concerns amid the country’s worsening economic crisis.
According to a judgment issued by Civil Court Judge Abdulla Ihsan on September 17, Falah purchased Lot Number 22173, a 3,250 square foot beachfront property located in one of the most expensive zones of Hulhumalé Phase II. The ruling details that the land was originally agreed to be sold by the Housing Development Corporation (HDC) to an individual named Imran Ali on 19 March 2025. However, on 9 July 2025, the agreement was amended to transfer all rights and obligations to Falah, formally designating him as the new buyer.
The court document outlines that the sale price of the land was set at MVR 26.65 million, equating to MVR 8,200 per square foot. With the addition of the mandatory eight percent Goods and Services Tax (GST), totaling MVR 2.13 million, Falah paid a final amount of MVR 28.78 million to acquire the property.
The pro-government lawmaker publicly announced the land acquisition in August via social media. Responding to questions about his asset declarations, he stated that he had acquired three plots from Innamaadhoo and one from Hulhumalé, although the registrations had not yet been officially transferred under his name.
According to his financial disclosure for the period between May 2024 and May 2025, Falah reported receiving MVR 3.28 million annually in rental income from four properties. In addition to this, he disclosed the purchase of a 1,000 square foot plot in Maafannu, named "Al Hadeed", for MVR four million.
His total declared income includes MVR 990,000 in parliamentary salary, MVR 900,000 in business profits, and MVR 3.28 million in rental income, bringing the total to MVR 5.17 million over the year. Despite this, his financial statement shows only MVR 111,074.84 in local bank accounts and USD 300.75 in foreign currency accounts.
More notably, the same statement reveals that Falah took out a loan of MVR 15.73 million from the Bank of Maldives (BML) on 20 February 2025. His current debt, as declared, exceeds MVR 15 million.
The revelation of such a high-value real estate transaction by a senior government-aligned official, at a time when the Maldivian economy faces mounting debt, rising inflation, and growing public discontent, has sparked widespread criticism and public concern. The timing and scale of the purchase, coupled with the discrepancies between declared income and expenditure, have only deepened suspicions surrounding the financial transparency of ruling party officials.
As the public grapples with economic hardship, questions continue to mount over how such elite land deals are financed and facilitated behind closed doors.
