Maldives Real Estate Investment Corporation (MREIC), a subsidiary of Maldives Transport and Contracting Company (MTCC) has decided to develop private lands in Male’ through a specific process.
A press release by MREIC announced that the company will develop private lands in Male’ belonging to individuals under an agreement between both parties. Interested parties can inquire further details from MTCC’s office located in Sawmill.
A senior official from MREIC stated that the lands will be developed after discussing with the land owner. “We can finance the project on our own as well. Although we have not self-financed private land projects in Male’, we have sold apartments in Hulhumale’ after developing the land.”
He further stated that lands developed in Male’ will not be up for sale but they will be renting out the apartment after completion in accordance with the agreement between the land owner and MREIC.