HDC Announces Lease of Commercial Units from The Apollo Towers for Retail Stores

Housing Development Corporation (HDC) has opened Request for Proposal (RFP)s for the lease of 6 commercial units from The Apollo Towers (Lot 11439) in Hulhumale’. These units are opened for the provision of retail stores offers a variety of products such as clothing & fashion, fabric, beauty & cosmetics, kids and toys, sportswear equipment and other merchandises.

                    The Apollo Towers is home to approximately 400 residents and located on Fithuroanu Magu, Hulhumale’ Phase 1, where several up-and-coming residential properties are being developed.

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                    The establishment of retail stores in this area is not only to cater for the demand of the neighboring residents, but also to the continuously growing population of the whole city, whilst adding value and boosting the commercial activities of Hulhumale’.

                    The announcement for RFPs was published on 25th February 2021.

Unit Details;

Unit Number (Ground Floor)Plot Area
11439-G-041,238.71 sqft
11439-G-051,251.09 sqft
11439-G-06891.25 sqft
Unit Number (First Floor)Plot Area
11439-1-041,527.61 sqft
11439-1-051,180.69 sqft
11439-1-061,275.41 sqft

The proposals will be evaluated based on the lease rates and business plans proposed.

The minimum acceptable lease rate is MVR 32.00 for Ground floor units and MVR 30.00 for first-floor units, and the business plan shall include, marketing analysis, financial plan and management and operational plan.

Proposals are to be submitted on 18th April 2021, between 1300hrs to 1400hrs.

A complete set of Request for Proposal (RFP) document is made available on HDC corporate website (https://hdc.com.mv/ ) and MyHulhumale’ Properties website (https://properties.hdc.com.mv/ )

Click here for the link for RFP document.

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