Housing Development Corporation (HDC) has announced that 74 more plots of land are up for sale from reclaimed suburbs, Hulhumale'.
HDC will be selling land between 1,095.05 sqft and 2,588.14 sqft for residential purposes.
HDC's announcement did not specify from which area of the city the plots will be sold. However, the announcement said 52 beach side plots and 22 beach front plots would be sold. A bid security of MVR 1 million is required to participate in the bid.
The minimum bid price for a beach front plot is MVR 6,500 per sqft. The minimum bid price for a beach side plot is MVR 5,500 per sqft.
Applications will be sold from the 21st of this month to the 1st of September. Bids will be opened on September 11 and 12.
HDC sold land plots from Hulhumale Phase II in February this year. At that time, HDC received more than MVR 1 billion from the sale of 60 plots of land over two rounds.
Conditions for land buyers
- Be 18 years of age or older.
- Not be a person who has purchased land in Hulhumale' sold by HDC through tender.
- Must not have a residential land or land larger than 600 sqft registered to their name in the Greater Male' Area
- Must not receive more than 600 sqft of land if land registered in applicant's name and others is larger than 600 sqft
- Not be a person who has transferred the land to another person after purchasing it by tender.
