BML auctions 2 Male houses over loan dues
The Civil Court granted permission on August 22 to sell the mortgaged properties.
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Bank of Maldives (BML) on Wednesday announced the auction of two properties in Male, following a recent Civil Court ruling.
The properties, M. Beach Corner and Ma. Naainfaruaage, will be sold to the highest bidders in an open auction.
According to BML's announcements published in the gazette, the Civil Court granted permission on August 22 to sell the mortgaged properties. The details of the properties are:
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M. Beach Corner: 927 square feet with a starting bid of MVR 23.89 million. Offers are open until October 15
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Ma. Naainfaruaage: 792 square feet with a minimum bid of MVR 13 million. Offers are open until October 10
The bank will announce the highest bid daily on its website. The auction will conclude when the highest bid remains unchanged for five consecutive days.
