211 Forms Submitted for 26 Land Plots from Hulhumale’ Phase II: HDC

Housing Development Corporation (HDC) stated that a total of 211 forms had been submitted for the 26 plots of land from Hulhumale’ Phase II beachfront.

Bidding for the 26 plots on the beachfront land plots took place earlier this week and the lowest price for beachfront land plots set by HDC was MVR 3,900 per square foot. The bid forms were sold for MVR 500. Additionally, a bid security of MVR 320,000 were collected from all bidders as well.

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An average of MVR 5,380.27 were submitted as bids per square foot and winning bids were at an average of MVR 7,527.61 per square foot.

HDC has released the details of the bid winners in order of bid winning amounts on their website. An additional 5 individuals have been waitlisted too.

HDC announced the sale of 60 land plots from Hulhuamale’ Phase II on December 27. The 60 land plots announced include 26 plots on the beachfront and 34 plots on the beachside.

Bidding for the 34 plots on the beachside will take place next Wednesday.

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