HDC opens Hulhumale phase 2 land for sale
Only Maldivians and 100% Maldivian-owned companies can buy the lands.
Land in the second phase of Hulhumale for residential purposes has been opened for sale.
Housing Development Corporation (HDC), which oversees Hulhumale, said on Thursday that the second phase of the beach front and beach side will be sold.
Only Maldivians and 100% Maldivian-owned companies can buy the lands.
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Beach front - Plots in sizes of 1,095.98 and 3,252.00 square feet
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Beach side - Plots in sizes of 1,440.80 and 3,380.00 square feet
The land sale will be conducted in two phases. They include:
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The first stage is the submission of an Expression of Interest (EOI)
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The second stage is to bid if more than one party has submitted an EOI for the land to be purchased
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The starting bid for the beach front lands is MVR 4,500
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The starting price of the beach side land is MVR 4,000
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EOI can be submitted for the purchase of more than one land
Information on the land currently available for sale will be available through the HDC's online bid portal.
HDC also opened the land for residential purposes in Hulhumale Phase 2 last May. In addition, in 2022 and 2021, Hulhumale phase 2 lands were sold for residential purposes through tender.
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