Housing Development Corporation (HDC) has opened up for sale the earlier announced 16 land plots in Hulhumale' Phase 2 for industrial use after changing the size and land prices of the lots.
Housing Development Corporation (HDC) has opened up for sale the earlier announced 16 land plots in Hulhumale' Phase 2 for industrial use after changing the size and land prices of the lots.
The starting bidding price for these land plots, available for purchase for Maldivians alone, was initially set at MVR 7,500. With the new changes, the price is now starting from MVR 5,500.
The announcement for the sale of these land plots made earlier this month state that the land plots range from 3,689 to 3,746 square feet. However, this has now been changed to land plots of between 1,515 and 1,538 square feet.
All Maldivians above the age of 18 can apply to purchase these 16 land plots. Companies interested in bidding must be registered in the Maldives and solely owned by Maldivians.
The sale process consists of two phases. The submission of an Expression of Interest (EOI), followed by bidding if multiple EOIs are received for the same plot. MVR 500,000 is set as as bid security.
As per the announcement, each individual can purchase up to a maximum of three land plots.
Bids can be submitted via HDC's online portal.
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