Hanbo Company reportedly "vanishes," prompting a formal request for assistance from HDC to locate the firm
3 ޖޫން 2026 | ބުދަ 09:33Advocacy Chambers, the legal firm representing victims of the K-Park apartment scandal, has requested the Housing Development Corporation's (HDC) assistance in establishing a line of communication with the project's developer, Hanbo Company. The law firm noted that the developer’s current unavailability has hindered efforts to resolve the issue, while further alleging a lack of cooperation from HDC thus far. Despite the significant financial losses suffered by numerous individuals in one of the Maldives' largest housing scams, victims continue to express concern over the perceived failure of government authorities to take adequate action in securing justice.
Hanbo Maldives minority shareholder Mamdhooh (C) alongside several executives of the Hanbo company. | Social Media
Victims of the "K-Park scam" have sought assistance from the Housing Development Corporation (HDC) to locate Hanbo, the company behind the K-Park apartment project, claiming the firm has effectively "vanished into thin air."
Advocacy Chambers, the law firm representing a significant number of individuals who paid for K-Park apartments but failed to receive them, has submitted a formal letter to the Housing Development Corporation (HDC) regarding the matter.
In a letter addressed to the Housing Development Corporation (HDC), Advocacy Chambers requested a meeting to establish a formal channel of communication with Hanbo Company. The law firm stated that HDC has so far failed to provide any cooperation in the ongoing efforts to resolve issues surrounding the K-Park project. The firm further noted that this lack of cooperation has resulted in a complete stalemate regarding the grievances submitted by apartment buyers, with no progress being made toward a resolution.
Advocacy Chambers stated that they had attempted to resolve the issues by meeting with the developer on behalf of the K-Park victims represented by the firm. However, the law firm noted that all avenues of communication have now been closed, as the company has effectively ceased to exist.
Advocacy Chambers stated that they sought assistance from the Housing Development Corporation (HDC) because they believe the corporation is the only entity capable of providing the necessary information to locate and facilitate a meeting with the developer.
Buyers of K-Park residences have faced significant financial losses and hardships due to the prolonged delay of the project, which was originally awarded to Hanbo Company by HDC in 2016.
Hassan Mamdhooh (Manday) was found guilty of 94 charges in the Criminal Court for his role in a fraudulent scheme involving the sale of these apartments to multiple parties. He has been sentenced to 397 years in prison.
Despite the sentencing, many victims who purchased K-Park flats have yet to receive justice. Furthermore, state authorities have been criticized for failing to provide accurate and transparent information regarding the status of the case and the future of the development.
