Ibrahim Falah, the Member of Parliament for Inguraidhoo and Parliamentary Group Leader of the ruling People’s National Congress (PNC), has purchased a land plot in Hulhumalé for MVR 28.7 million.
According to a Civil Court ruling issued today, the Housing Development Corporation (HDC) entered into an agreement with Falah in July to sell a plot in Hulhumalé Phase 2.
The court ruling noted that the 3,250-square-foot plot was valued at MVR 26.6 million, with the final amount rising to MVR 28.7 million after Goods and Services Tax (GST) was added. The judgment further confirmed that Falah has already paid the full amount, officially transferring ownership of the land to him.
The acquisition comes shortly after the Parliament released Falah’s financial statement. His declaration shows that, in addition to the new Hulhumalé property, he owns multiple land plots in Raa Atoll Innamaadhoo. The statement also reveals that he reported an income of MVR 5 million.
Falah had earlier acknowledged the purchase publicly. On September 3, he confirmed that the Hulhumalé land was in the process of being registered under his name.
“There are also three land plots bought from Innamaadhoo which are in the process of changing registries,” he said at the time.
Falah’s latest purchase highlights his expanding real estate portfolio, with properties spread across different atolls. The high-value Hulhumalé acquisition also places him among a growing number of politicians and business figures investing in the capital’s rapidly developing island.
