Urbanco has initiated the bidding process for the sale of five land plots in Hulhumalé 1, intended for the development of luxury residential buildings.
The deadline for submitting bids for the land is set for August 17, with the bid opening scheduled for the same day.
According to the announcement, two plots of land located in front of the Hulhumalé Ferry Terminal, as well as three plots of land situated in front of the Dhiraagu Hulhumalé office are being sold for the development of luxury apartment buildings.
The plots of land available for sale are as follows:
• Lot 10322: 25,660 square feet
• Lot 11808: 24,961 square feet
• Lot 11809: 24,652 square feet
• Lot 11828: 20,727 square feet
• Lot 11829: 23,229 square feet
According to the information sheet released with the announcement, land plots are designated for the construction of 2+1 (1,000 sq ft) and 3+1 (1,300 sq ft) bedroom apartments. Each apartment is expected to include a living room, kitchen/dining room, laundry facilities, and a balcony.
Interested bidders are required to submit a bid security of MVR 500,000 along with their proposals.
Urbanco is already engaged in constructing residential buildings in various locations within Hulhumalé.
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