HDC opens bid for five land plots in Hulhumale’ for office buildings

Housing Development Corporation (HDC), on Sunday, has opened bid for five land plots in Hulhumale’ Phase II for the development of office buildings.

Only 100 percent locally registered businesses will be eligible to submit bids. The land plots up for sale include three measuring 6,124 square feet and two measuring 9,633 square feet.

The base rate for the land plots has been set at MVR 4,500 per square feet. Meanwhile, the bid security for the smaller land plots is set at MVR 500,000 whilst the bid security for the larger land plots has been set at MVR 1 million.

Interested parties have been instructed by HDC to complete the ‘Investor Register’ under the registration tab at http://bids.hdc.com.mv/sales and complete the ‘Project Registration’ on office development projects in order to submit their Expression of Interest (EOI). Further details regarding the bid and online submission will be available on HDC’s website.

HDC is presently developing an office building at Hulhumale’ Phase I. The project was contracted to Rainbow Construction which involves the development of a five-story ‘mixed-office building’ at a land plot measuring approximately 12,000 square feet.