The Housing Development Corporation (HDC) has announced the sale of 50 plots of land from Thilafushi Phase II for industrial purposes.
The plots sold from Thilafushi would be between 2,500 sqft and 35,000 sqft. The minimum bid price is MVR 1,700 per sqft.
Details of plots for sale:
2,500 - 4,999.99 sqft - 14 plots
5,000 - 9,999.99 sqft - 20 plots
10,000 - 14,999.99 sqft - 7 plots
15,000 - 19,999.99 sqft - 7 plots
20,000 - 29,999.99 sqft - 1 plot
30,000 - 35,000.00 sqft - 1 plot
The opportunity to buy land is open to both locals and foreigners. While locals can own the land, foreigners can lease the land for 99 years.
The Maldives National Party (MNP) has expressed concern over the sale of land from Thilafushi to foreigners through tender. Opposing PNC's Maduvveri MP Adam Shareef also moved an emergency motion in Parliament calling for an end to the sale of land to foreigners through tender. However, the motion was rejected.
