Bid winners to select plots in Hulhumale’ Phase II next week

Housing Development Corporation (HDC) has announced that the selection of plots opened for sale in Hulhumale’ Phase II will be held next week.

 HDC announced the sale of 60 plots of land from Hulhumale’ Phase II on December 27; 26 beachfront plots and 34 beachside plots.

HDC announced on Thursday that the selection for the beachfront plots will be held at 09:00 am on Monday, February 21, at the 2nd floor of H. Meeruma. Meanwhile, the selection for the beachside plots will be held in the same venue at 09:00 am on Wednesday, February 23.

The opportunity to select plots will be granted in order, starting from the highest bid. Selected bidders can attend the meeting with one companion.

If the selected bidders or their proxy fail to attend the meeting on time, HDC will cancel the bid and take the bid security.

Meanwhile, if the selected bidders or their proxy relinquish their right to the plot or fails to attend the meeting, the opportunity to buy the plot will be granted based on order of the waitlist.

The 26 beachfront plots had attracted 211 bids. The lowest bid which won was MVR 6,759 per square feet, while the highest bid which won was MVR 10,220 per square feet.

Meanwhile, the 34 beachside plots had attracted 179 bids. The lowest bid which won was MVR 3,500 per square feet, while the highest bid which won was MVR 9,700 per square feet.

HDC states it opened the plots up for sale to grant housing opportunity for people of different categories under modern housing projects.

The corporation said that funds raised from the sale of the plots will be used to lower the price of social housing category plots.

HDC had previously stated that first-time land owners, along with residents of the greater Male’ region registered to lands measuring less than 600 square feet would be prioritized in the sale of the plots.