Hulhumale' Property Auctioned by HDFC, Bidding Begins at MVR 25.7 Million

Housing Development Financing Corporation (HDFC) has opened the auction for a prime property located in Hulhumalé. The property, known as Orchid Hiya, is situated on Plot 10718. The sale includes both the building and the land, with the starting bid set at MVR 25.7 million.

Property Background

The property was originally mortgaged under a loan taken by Khadheeja AbduSattar, Ma. Champaamaage, and Jameel Usman. Jameel Usman, who is known for his role as the former Member of Parliament for the Gemanafushi constituency, currently serves as the Head of Specialist Projects, Operations at Tree Top Hospital.

The auction comes after a legal authorization granted by the Civil Court on September 30, allowing HDFC to proceed with the sale.

Key Auction Details

  • Starting bid: MVR 25.7 million
  • Bidding deadline: November 14
  • Auction rules: The auction will close if no new bids are submitted within three consecutive working days.
  • Payment terms: If the highest bidder fails to settle the payment within 10 days, the second-highest bid may be considered, or HDFC could choose to reopen the auction.

Loan Settlement Option

It's important to note that the current owners still have the option to settle their loan within the auction period to reclaim ownership of the property. 

Resort in Maldives

Crossroads Maldives OZEN RESERVE Bolifushi Siyam World Maldives Raffles Maldives Meradhoo Kurumba Maldives JOALI BEING Seaside Finolhu Baa Atoll Maldives Emerald Faarufushi Resort & Spa Soneva Fushi Sun Siyam Iru Veli Maldives Kuramathi Maldives Meeru Maldives Resort Island Atmosphere Kanifushi Maldives Banyan Tree Vabbinfaru Noku Maldives Sun Siyam Vilu Reef Maldives Coco Palm Dhuni Kolhu Maldives Dusit Thani Maldives Kandima Maldives Milaidhoo Maldives OBLU XPERIENCE Ailafushi The Nautilus Maldives Ayada Maldives Baglioni Maldives OUTRIGGER Maldives Maafushivaru Coco Bodu Hithi Jawakara Islands Maldives Kuredhivaru Resort and Spa OBLU NATURE Helengeli OZEN LIFE Maadhoo RAAYA by Atmosphere Alila Kothaifaru Maldives JA Manafaru Maldives OBLU SELECT Sangeli ROBINSON Maldives Soneva Jani Taj Exotica Resort & Spa Maldives dusitD2 Feydhoo Maldives Grand Park Kodhipparu Maldives NOOE Maldives Kunaavashi Park Hyatt Maldives Hadahaa Sun Siyam Olhuveli Maldives Ananea Madivaru Maldives Emerald Maldives Resort & Spa Oaga Art Resort Six Senses Laamu Soneva Secret The Residence Maldives Dhigurah Anantara Kihavah Maldives Villas Fiyavalhu Resort Maldives JOALI Maldives Sheraton Maldives Full Moon Resort & Spa Gili Lankanfushi Maldives Kandolhu Maldives Niyama Private Islands Maldives Nova Maldives Sun Siyam Iru Fushi Maldives Sun Siyam Olhuveli Taj Coral Reef Resort & Spa VARU by Atmosphere Club Med Kanifinolhu Cocoon Maldives Holiday Inn Resort Kandooma Maldives JW Marriott Maldives Resort & Spa SO/ Maldives Sandies Bathala Maldives Sirru Fen Fushi Private Lagoon Resort The Residence Maldives Falhumaafushi Constance Moofushi Maldives Pulse Hotels & Resorts Radisson Blu Resort Maldives Six Senses Kanuhura Atmosphere Core Atmosphere Kani Fushi Maldives Brennia Kottefaru Centara Grand Lagoon Maldives Coconut Palm Conservation Constant Halaveli Maldives Four Seasons Resort Maldives at Kuda Huraa Hideaway Beach Resort & Spa Kaani Hotels Kandima Resort LUX* South Ari Atoll Le Meridien Maldives Resort and Spa Lily Beach Resort & Spa Mercure Maldives Kooddoo Resort Taj Exotica careers