Malé, Maldives – Housing Development Corporation (HDC) – a fully state owned enterprise that manages the overall planning and building of Hulhumalé – has decided to sell another 74 land plots from the artificial urban island.
Opening the auction process, HDC announced today that the plots are between 1,095.5 and 2,588.14 square-feet in size, located in phase two of Hulhumalé. These include 22 beach front plots and 52 beach side plots. Each individual is only eligible to purchase one plot, the company said.
Details of the auction include:
- Beach front – 22 plots (auction starting price MVR 6,500 per sqaure-foot
- Beach front – 52 plots (auction starting price MVR 5,500
- Bid security – MVR 1 million
Conditions to be met in purchasing the plots include:
- Be a Maldivian of 18 years and above
- Not have registered or own a land plot exceeding 600 square-foot in Malé area, for domestic purposes
- Not have purchased a land plot from Hulhumalé via HDC auction
- Not have purchased a land plot via auction and then transferred ownership to another person
The forms will be available from HDC office reception, starting from Sunday, until September 1. Form submission will go on from 11th to 12th September, the company said.
HDC sold 60 land plots from phase 2 of Hulhumalé earlier this year as well. During that auction, bids per sqaure-foot went as high as MVR 10,000.
