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HDC announces Hulhumale leases for commercial use

20 January 2019, MVT 13:23
A construction site in Hulhuamale'. PHOTO: HUSSAIN WAHEED/ MIHAARU
20 January 2019, MVT 13:23

Housing Development Corporation (HDC) announced the lease of several units from the reclaimed suburb of Hulhumale’ for commercial purposes.

According to the notice released by HDC, one unit of 'Centro Mall', three units of 'Renaatus Ithaa Muiy', three units from the Commercial Block, and four units from Warehouse Shell-1 are available for lease.

The unit from Centro Mall is a 460-square feet a clothing shop, to be leased for a 5-year period. A deposit of MVR 50,000 must be paid bid security.

The units to be leased from Renaatus include a cafe or restaurant, a convenience store, and a space that could be used as an office or retail shop. A deposit of MVR 100,000 is required by HDC in order to secure each spot for a 10-year period.

The unit offered from the Commercial Block-E can either be used for an office or shop, with a deposit of MVR 100,000 required as a security deposit for a 10-year lease.

The four units offered from Warehouse Shell-1 are designed as dry storage facilities. A deposit of MVR 50,000 is required to secure each spot for five years.

Furthermore, spaces from Amin Avenue have also opened for commercial usage, with each area to be leased for a duration of 10 years. A deposit of MVR 50,000 is required to secure all the spots with the exception of the Garage Unit, which costs MVR 100,000 for the security deposit.

Interested parties are to clarify information from HDC before January 30.

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