Minister of Economic Development Fayyaz Ismail has revealed Housing Development Corporation (HDC) has attained loans amounting to one billion US dollars during the previous administration.
Speaking at a campaign gathering held by Maldivian Democratic Party (MDP) in Hulhumale', Economic Minister Fayyaz widely criticised how HDC functioned previously. Widely criticizing HDC, the economic minister expressed the previous administration deliberately deceived the public regarding the housing projects by building apartments smaller than initially announced. He revealed the efforts of the current administration to solve the issues.
Moreover, the minister revealed under the Fahi Dhiriulhun Corporation, established by a presidential decree, housing units can be owned within a shorter period. Describing the social housing projects launched by the previous administrations as acts of corruption, Fayyaz stated it will take a significant amount of time to solve the issues.