The Anti-Corruption Commission (ACC) received a complaint concerning a private preschool in the reclaimed suburb of Hulhumale'.
An ACC official revealed that the case concerned the bidding process by which the plot was awarded.
However, the official declined to provide further information, stating that the case was in the evaluation stage, which precedes the watchdog's decision to investigate or forgo the case.
The Housing Development Corporation (HDC) handed over the 10-classroom facility to the Ministry of Education in January 2018.
No bids were presented in response to the ministry's initial two announcements.
Following the third notice, bids were lodged by Islanders Education, the Maritime Academy of Maldives and Qualitat Education Private Limited.
Maritime Academy's bid was nullified over failure to submit all necessary paperwork.
The school, built with a computer lab, hall and staff room, was allegedly utilized as a campaign hub to garner support for former president Abdulla Yameen Abdul Gayoom prior to the 2018 presidential election.