HDC opens bidding for 10 plots in Hulhumale Phase 2
The sale is open exclusively to Maldivian citizens and companies with 100% Maldivian ownership.
Housing Development Corporation (HDC) on Monday announced the sale of 10 new plots of land in Hulhumale Phase 2.
Among the plots available, three are located along the beachfront, while seven are situated near the beach.
The sizes of the plots available for bidding are:
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Beachfront plots: 1,559 sq. ft. to 3,250 sq. ft.
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Beachside plots: 1,230 sq. ft. to 1,534 sq. ft.
The sale is open exclusively to Maldivian citizens and companies with 100% Maldivian ownership. The bidding starts at:
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MVR 4,000 per sq. ft. for beachside plots.
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MVR 4,500 per sq. ft. for beachfront plots.
Interested parties must submit applications through HDC’s online bid portal.
The sale will follow a two-phase bidding process:
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1-
Expression of Interest (EOI): Interested buyers must first submit an EOI.
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2-
Bidding Stage: If multiple EOIs are received for the same plot, a bidding process will determine the buyer.
Applicants can submit EOIs for multiple plots. Detailed information about the available plots is accessible through HDC’s bid portal.
HDC has already conducted three residential land sales in Hulhumale Phase 2 this year, following similar sales in 2021 and 2022. These efforts aim to meet the growing demand for residential spaces in the rapidly developing area, offering opportunities for locals to invest in prime real estate.
