13 Units Up for Lease with Lower Rent at the Food Court

State Trading Organization (STO) has revealed that thirteen units at the harbor food court of Male’ is up for lease now.

In announcement released on 31st December 2020, STO states bidding is open for all interested parties till 14th January 2021, 14:00hrs.

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In twitter, the Managing Director of STO, Hussain Amr said that lease rent has been lowered. The lessee are now required to pay a security deposit of two months instead for three months. The base rate for the lease is MVR 39 per square foot.

Amr noted that the bid security of MVR 100,000 will not be taken along with the advance payment. Interested parties are also not required to submit a business proposal unlike in previous bids.

STO revamped and opened the southwest harbor food court area in May 2018 under a venture which cost MVR 32 million. Locally named as the “Raaveribey Kohthu Veni”, the food court has been developed with modern facilities such as common toilet and hand wash areas for each wing and convenience stores.

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