Bank of Maldives has re-announced the auction of M. Nainfaruaage, a property that was initially put up for auction last September due to a loan default.
Bank of Maldives has re-announced the auction of M. Nainfaruaage, a property that was initially put up for auction last September due to a loan default.
Nainfaruaage is a 792 square foot house. The starting auction price has now been set at MVR 8 million, significantly lower than the previous starting price of MVR 13 million when it was first announced for sale.
The deadline for submitting auction bids is the 24th of this month.
BML stated that on the deadline date, the auction will be opened in the presence of those who submitted bids and are physically present, and the highest bid will be announced.
According to the bank, the property will be sold to the party that submits the highest bid. The highest bid will be determined when the highest offered price remains unchanged for five consecutive days. The highest bid of each day will be announced on the BML website.
Additional information about the property can be found at: https://www.bankofmaldives.com.mv/news-and-media/auctions
M. Nainfaruaage.
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