Nasandhura Palace Hotel

Decision on Nasandhura lease contract depends on AG: Minister

  • The AG is still evaluating the 50-year lease agreement of the Nasandhura plot
  • In 2015, Nasandhura and the surrounding plot was leased for 50 years and NPH Investment was contracted to develop the plot
  • NPH Investment contracted a Sri Lankan company to construct a 25-story building in the plot; the project is currently proceeding at a swift pace

Humaam Ali
HumaamAli

K. Male' 2019 Aug 22 | Thu 01:13 1,927 local

Minister Waheed at the parliament's committee meeting on Wednesday - Shuaib Mohamed Iqbal

Tourism Minister Ali Waheed said that making a decision on the Nasandhura Palace Hotel lease contract depends on the Attorney General’s evaluation.

Speaking to the parliament’s finances committee on Wednesday, Minister Waheed said the AG is still evaluating the 50-year lease agreement of the Nasandhura plot.

Minister Waheed said the AG’s evaluation is needed since he would be the one representing the state in case of arbitration, and that that he does not believe that the AG is slow in his evaluation, since he is also tasked with reviewing the 19 government ministries.

Since 2010, Nasandhura had been run by Galaxy Enterprises, which had Mohamed Manik, brother-in-law of former President Abdulla Yameen, as a shareholder. In 2015, Nasandhura and the surrounding plot was leased for 50 years and NPH Investment was contracted to develop the plot.

NPH Investment contracted a Sri Lankan company to construct a 25-story building in the plot. The project is currently proceeding at a swift pace.

Last updated at: 4 weeks ago | Reviewed by: Abdulla Naseer Ibrahim

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