Coral Boulevard Sues State for MVR 6.5 Billion in Land Dispute

Coral Boulevard has filed a lawsuit against the state government, demanding USD 426 million (MVR 6.5 billion) in compensation. The case revolves around the state's failure to transfer possession of the designated land for Coral Boulevard's residential complex in Rasfannu and not providing an alternative plot.

In 2019, then administration made the decision to take back the land in front of Rasfannu which was granted to Coral Boulevard, a Singapore base company, during former President Abdulla Yameen's term. Instead, they decided to give them land from Hulhumale'. However, the land transfer did not materialize.

Coral Boulevard initiated legal proceedings against the Planning Ministry, Finance Ministry, and the State in the civil court, seeking damages for the non-transfer of the land.

The State objected to the inclusion of the finance ministry and its own part in the chargesheet, leading the court to exclude them from prosecution. However, the court permitted the prosecution of the Planning Ministry.