Following the end of Milestone 1, land purchases in the second phase of Thilafushi have been completed through a tender process.
Yesterday, the Housing Development Corporation (HDC) announced the successful conclusion of Milestone 1. As a result, the corporation is now contacting the signatories to collect funds related to this phase. This initiative involves acquiring land from Thilafushi for various commercial purposes, with a total of 108 plots designated for allocation.
The allocation breakdown is as follows:
– Type 1: 64 plots sized 2500 – 4999 sqft
– Type 2: 42 plots sized 5000 – 9999 sqft
– Type 3: 2 plots sized 10,000 – 14,000 sqft
Areas A, B, E, and F have completed the second phase of Thilafushi’s land reclamation, with 1,296,000 square meters already dredged. Additionally, progress on the beach protection project in Area B has reached 29% completion.
Interested parties were invited to submit bids for industrial land on May 2nd, with a minimum bid price set at MVR 1700. Thilafushi is a pivotal commercial and industrial hub within the Male’ area, accommodating diverse industrial activities such as cement packing, gas bottling, and boat building.
