WZR Property Sdn Bhd (WZR), a Malaysian construction and property developer, has filed a court case against the Maldives government for breach of contract regarding the construction of the new Ministry of Finance building in Hulhumale.
The 25-story office building project, which was originally planned for Male but was later relocated to Hulhumale, was awarded to WZR in 2016 during the Yameen administration but was halted due to a lack of funding.
Following the company’s decision to address the payment dispute through arbitration, the Asian International Arbitration Centre (AIAC) ordered Housing Development Corporation (HDC) to pay WZR USD 22.82 million within seven days in July 2020.
WZR executive director Wan Nadzir Wan Mohamad told Malaysian news outlets that the company has decided to file a claim against the Maldives government for compensation for their losses due to the government’s failure to comply with the adjudicator’s decision.
According to Malaysian press reports, WZR has also asked the Malaysian Ministries of Foreign Affairs, International Trade and Industry, and the Prime Minister’s Office to intervene and aid in expediting the Maldives government’s payment of USD 22.8 million to the company.
