Gov’t Launches Sale of 16 Land Plots in Hulhumale’ Phase 2

The government has announced the sale of 16 land plots from Hulhumale’ Phase 2 beachfront and beachside areas, effective today.

The Housing Development Corporation (HDC) revealed that beachfront plots ranging from 1,096 to 3,252 square feet are available at MVR 4,500 per square foot. Prices for these properties range from MVR 4.9 million to MVR 14.6 million.

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Beachside plots, which vary in size from 1,441 to 3,380 square feet, are priced at MVR 4,000 per square foot, with total costs ranging from MVR 5.8 million to MVR 13.5 million.

These plots are exclusively available to Maldivian nationals aged 18 and over, as well as fully locally owned companies.

The sale process will occur in two stages:

• Submission of an Expression of Interest (EOI) for the desired plot via HDC’s portal.
• A formal bidding process will follow if multiple parties express interest in the same plot.

For further details regarding the available plots, interested parties are advised to contact HDC.

In the previous year, HDC conducted two rounds of land sales in Hulhumale’, offering 17 plots in one round and 13 in the other.