HDC Opens Sale of 16 Prime Land Plots in Hulhumale' Phase 2
The Housing Development Corporation (HDC) has announced the sale of 16 prime land plots in Hulhumale’ Phase 2, offering both beachfront and beachside properties for purchase. The sale is open exclusively to Maldivian nationals aged 18 and above, as well as fully locally-owned companies.
Beachfront and Beachside Plots Available
HDC's statement revealed that the beachfront plots, ranging from 1,096 to 3,252 square feet, are priced at MVR 4,500 per square foot. This brings the total price for these beachfront plots to between MVR 4.9 million and MVR 14.6 million.
For those interested in beachside properties, plots measuring between 1,441 and 3,380 square feet are available at MVR 4,000 per square foot. Prices for these properties start at MVR 5.8 million and go up to MVR 13.5 million.
Sale Process
The sale will be conducted in two phases:
- Expression of Interest (EOI): Interested parties must submit an EOI for their preferred land plot through HDC's online portal.
- Bidding Process: If more than one party expresses interest in the same plot, a bidding process will take place.
Further details on the sale process, as well as information about the specific plots on offer, can be obtained directly from HDC.
Past Land Sales in Hulhumale’
Last year, HDC conducted two rounds of land sales in Hulhumale’, where 17 plots were offered in one round and 13 plots in the second.
With its prime location and proximity to the coastline, this new opportunity to purchase land in Hulhumale' Phase 2 is expected to attract significant interest.