The Anti-Corruption Commission (ACC) investigators entered Ubranco’s headquarters on Tuesday to determine whether the company had violated the commission’s directive on long-term leasing of land in Hulhumalé which was issued in relation to an ongoing inquiry.

In response to concerns raised by the Office of the President-Elect regarding commercial land transactions in Hulhumalé, the ACC instructed Urbanco on October 30 to halt such activities during the government transition. Despite this, Urbanco is suspected of moving forward with the long-term lease of Farukolhufushi in Hulhumalé Phase II which prompted the ACC investigators to enter the company’s offices. The ACC has not yet made an official comment regarding the matter.

Earlier, the Office of the President-Elect said it had received information that 40 items, related to the long-term leasing of land, had been tabled for consideration at Urbanco’s next scheduled board meeting, and urged the state-owned company halt any such transactions at this time.