HDC reclaims Riveli Beach Restaurant land over unpaid rent
2 ނޮވެމްބަރު 2026 | ހޯމަ 16:26The Housing Development Corporation (HDC) has repossessed the land previously leased to Solaris Hospitality for the operation of "Riveli Beach Club" in Hulhumale', following the termination of their agreement due to prolonged non-payment of rent. This action was taken after the company failed to settle outstanding dues despite being granted multiple extensions, and as such, all commercial activities on the premises are now strictly prohibited.
Riveli Beach Club and Restaurant in Hulhumale'. | Riveli Beach Club & Restauran
The Housing Development Corporation (HDC) has repossessed the land occupied by "Riveli Beach Club and Restaurant" in Hulhumale' due to significant outstanding lease payments.
Housing Development Corporation (HDC) announced in a statement on Monday that it has terminated its commercial agreement with Solaris Hospitality Private Limited regarding Hulhumale' Lot No. 10877. The corporation further notified the public that, effective Monday, all commercial transactions and the provision of any services on the premises are strictly prohibited.
HDC stated that the decision to repossess the land, which had been leased for commercial operations, was made due to a prolonged period of unpaid rent. However, the corporation did not disclose the total amount of outstanding arrears.
The corporation further stated that this action was taken in accordance with established procedures, following the issuance of all required contractual notices and providing numerous opportunities to settle the outstanding payments.
Furthermore, HDC noted that such decisions are made only after providing the widest possible range of opportunities to businesses operating in Hulhumale'. The corporation’s announcement also emphasized that its objective remains to foster the most conducive environment possible for the business community in Hulhumale'.
