HDC opens additional 18 plots for sale in Hulhumale phase 2
This includes 16 beach side plots and two beach front plots.
Housing Development Corporation (HDC) on Sunday put up 18 new plots of land in Hulhumale Phase Two for auction, in addition to the plots opened for bidding earlier this year.
In May, HDC made available 13 plots on the beach side, with the area officially opened for sale last month.
Now, an additional 18 plots have been offered for bidding. This includes 16 beach side plots and two beach front plots.
Applications for these plots must be submitted through HDC's bid portal. The land sizes range between 1,200 and 1,584 square feet.
The auction is open only to Maldivians, including companies that are fully Maldivian-owned.
Bidding for the beach side plots starts at MVR 4,000 per square foot, while beach front plots start at MVR 4,500 per square foot.
The auction process will proceed in two phases. The first phase involves submitting an Expression of Interest (EOI). If more than one party submits an EOI for the same plot, the second phase will involve competitive bidding.
HDC has been offering land for residential purposes in Hulhumale Phase 2 since May and the subsequent month. Similar land sales were conducted through tender processes in 2022 and 2021.
