HDC to sell 5 Hulhumale plots for office buildings
The office building has to be constructed on the land within a maximum of three years from the signing of the agreement.
HDC announced on Sunday the sale of five plots of land in Hulhumale Phase I to private contractors for the construction of office buildings.
While these lands will be sold only to local businesses, HDC will get at least MVR 417.4 million as revenue from these five lands.
According to the HDC notification, only 100% local businesses can bid for these plots.
HDC plans to sell two sizes of land for the construction of the office building:
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1-
Three plots measuring 6,124 sq ft each
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2-
Two plots measuring 9,633 sq ft each
The price for each of these plots can be offered through a minimum route of MVR 4,500 per sq ft. At this rate, it is as follows:
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For a 6,124-square-foot plot a minimum of MVR 2.8 million; MVR 500,000 as bid security has to be submitted
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Starting price of 9,633 sq ft land is MVR 43.4 million; bid security for such land has been fixed at MVR 1 million
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HDC will earn a minimum revenue of MVR 417.4 million from the sale of these five plots
According to HDC, the auction will be conducted in two phases. Thus:
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After examining the bid security submitted and allowing the HDC to evaluate the proposal, expression of interest (EOI) can be submitted for the land
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Others will be allowed to submit more proposals for land where bids have been submitted for 10 days
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If no further proposal is received, award letter will be issued to the bidder for the said land
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The second phase will be taken only if more than one bid is received for the same land
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In cases where more than one offer is received, an open bid meeting will be held between them and the award letter will be issued to the highest bidder.
Within six days of issuing the award letter, the purchase price of the land has to be settled in full to the HDC. The office building has to be constructed on the land within a maximum of three years of the signing of the agreement.
HDC this month announced that 4.3 hectares of land acquired from Thilafushi will be owned by locals and leased to foreign companies for industrial purposes for 99 years. Even through the sale of these 50 plots, HDC will get a minimum of MVR 763.9 million.
The government office building, 'Umar Zahir Office Building', opened in Hulhumale on February 15.
