Ma. Kudhimagooge auctioned with starting price of MVR 12.15 million
MIB said the property has a land area of 830 square feet and that the auction will commence with a minimum bid of MVR 12.15 million.
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Following a Civil Court ruling issued on Monday, Maldives Islamic Bank (MIB) has announced the public auction of the property Ma. Kudhimagooge.
According to the bank, bids for the property, located near Ali Hussain Mosque (Maaveyo Miskiy) on Maaveyo Magu, must be submitted by 1:00 pm on the 3rd of next month.
MIB said the property has a land area of 830 square feet and that the auction will commence with a minimum bid of MVR 12.15 million.
The bank said bidding documents will be opened in the presence of bidders attending the auction, after which the highest submitted bid will be announced.
According to the auction terms:
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Bidders wishing to exceed the highest opening bid must increase the offer by a minimum of MVR 500,000.
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Participants are required to submit a bid security of MVR 100,000.
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A bid security template is available through the bank.
MIB has advised interested parties to contact the bank on 3325555 or via email at [email protected] for further information regarding the auction.
