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News / HDC

HDC seeks parties to build Mid-range flats Hulhumale'

Malika Shahid
12 May 2022, MVT 13:03
[FILE] Hulhumale housing units: HDC is seeking parties to build mid-range housing units in Hulhumale' Phase one. --Photo: Mihaaru
Malika Shahid
12 May 2022, MVT 13:03

Huhumale' Development Corporation (HDC) is seeking parties to build mid-range flats on seven more land plots in Hulhumale' Phase one.

An announcement by HDC stated that Interested parties will be able to submit proposals to develop flats on seven land plots of 26,400 square feet and 34,543 square feet before April 23.

Out of the seven land plots, five can be sold for a minimum of MVR 2,451 per square feet and two can be sold for a minimum of MVR 2,530 per square feet.

According to the announcement, the flats must have two-room and three-room apartments. The two-room apartment must be at least 700 square feet and three-room apartments are at least 900 square feet.

While the price of 60 percent of the two-room apartments must be retained at MVR 1.5 million, the price of three-room apartments are capped at MVR 2.5 million.

The 14 story flats will have a total of 900 units.

HDC said pre-sale will be permitted upon completion of 20 percent of the civil work in the apartments, while bookings can be made only after pre-sale permission is granted. A maximum booking fee of MVR 50,000 can be charged, HDC said.

The announcement stated that proposals can be submitted for a maximum of three lots. Completed units must be handed over to HDC within two years of the land handover.

The ground floor of the flats is designed for business purposes and parking space is on the first floor. Residential units will be housed between the second and fourteenth floors.

HDC had previously announced late last month that it was seeking a party to build apartment buildings on 10 plots of land.

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