The Housing Development Corporation (HDC) has announced the availability of land for residential sale in Hulhumalé Phase 2, including prime beachfront and beachside plots.
According to HDC, Maldivian residents aged 18 and older are eligible to submit bids for these plots. Companies registered in the Maldives with 100% Maldivian ownership can also participate in the bidding process. The land sale will take place in two phases: the first involves submitting an Expression of Interest (EOI), and the second, a bidding stage, if more than one party expresses interest in the same plot.
The available land includes beachfront plots ranging from 1,095 to 3,252 acres and beachside plots measuring between 1,440 and 3,380 acres. The starting price for beachfront land is set at MVR 4,500 per square foot, while beachside land will start at MVR 4,000 per square foot. HDC also allows applicants to bid for more than one plot.
Further information regarding the sale, including available plots, is accessible through HDC’s online bid portal.
