Government has decided to sell plots from the land reclaimed under phase two of the Hulhumale' development project from September 18th onward.
According to Housing Development Corporation (HDC) Managing Director Mohamed Saiman said 76 land plots will be sold in this round, 38 of them are beach front and the rest are beach side plots.
The plots will be of two sizes: 1,000 square feet and 1,800 square feet, with the starting price set at MVR 3000 per square feet. Buyers have to pay five percent in addition to the price as acquisition cost.
Winners will have to pay the whole amount up front within a two-week period. A third party, such as a bank or a financial institution, can arrange finance for the winners and will be granted a three-month period.
HDC to sell land from Hulhumalé Second Phase on Sept. 18
