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Development of 2,500 Housing Units under Social Housin...

    REQUEST FOR EXPRESSION OF INTEREST    Development of 2,500 Housing Units under Social Housing Unit Scheme The Ministry of Finance and Treasury of the Government of Republic of Maldives, desires to develop 2,500 housing units at Hulhumale’ under Social Housing Unit Scheme through developer financing and  now invites local and foreign eligible contractors to indicate their interest in the Development of 2,500 Housing Units …

HDC to sell 76 plots of land from Hulhumalé

According to Housing Development Corporation (HDC), the plots of land to be sold are from neighborhood 1 of the reclaimed area. The plots will be of two sizes: 1,000 square feet and 1,800 square feet. While the bidding process is set to begin on September 18, starting price has been set at MVR 3000 per square feet. HDC’s Managing Director, Mohamed Simon, told at …

Baglioni to open Maagu property in 2017

Ninety-nine villas in Maagu Three Presidential Villas Three restaurants Italian hospitality brand Baglioni Hotels will launch its first luxury Maldives resort next year. CIT magazine reported that the resort will provide 99 villas with a selection of jungle, beach or over-water options, including an 870sqm presidential water villa with three bedrooms and private pool with Jacuzzi. Guests will have a choice of three restaurants …

MTDC sells Niyama Maldives resort for USD 23.3 million

Maldives Tourism Development Corporation (MTDC) announced the sale of Niyama Maldives, the resort managed in the islands of Enbudhufushi and Olhuveli in Dhaalu atoll, for USD 23.3 million (MVR 359.2 million). In a statement, MTDC declared that its board of directors has decided to sell the chief lease rights of the resort to O Plus E Holdings Pvt Ltd, the resort’s developer and current operator. …

BML to provide home loans to pensioners

Bank of Maldives has signed an agreement with the Maldives Pension Administration Office (MPAO) to accept retirement savings as equity for home loans. This will pave the way to make home finance more accessible and more affordable for Maldivian individuals and families who, until now, have found it difficult to meet the initial equity down payment required. BML Home Loan applicants will now be …

Kaani Grand Sea View opening next year

On going development of Kaani Grand Sea View hotel in Maafushi is a 2.5 million dollar investment which is going to be completed on 2017. According to Kaani Hotels owner Abdulla Nasheed ‘we are working at our max speed to finish the 55 room guesthouse construction work and looking forward to open the hotel within next year July’. With the opening of this hotel, …

Gulhifalhu industrial village project will begin after...

Gulhifalhu Investments Ltd. says it will start developing the island of Gulhifalhu, located between Thilafushi and Villimale’, as an industrial village only after leasing out all the land plots there. Answering a question posed by VNews, Gulhifalhu Investments’ Managing Director Abdulla Fazeel said 70 percent of the land has already been leased out, but it was undecided about how the rest of the land …

Rainbow Constructions Developing 145 Mix Housing units...

Housing Development Corporation (HDC) hands over the development of 145 Mixed use Residential units to Rainbow Construction today. HDC stated ‘Today we have signed the agreement with Director of Rainbow Construction Mazin Ibrahim Rafeeq and Managing Director of Housing Development Corporation Mohamed Simon. Also these apartments are estimated to be finished within 2 Years and 2 Months time’. Rainbow Constructions director Mazin said ‘The …

Rent of storage space in Industrial Village expected t...

According to Housing Minister Dr. Mohamed Muizzu, ‘Now developing land of ‘Industrial village’ Storage space rent would be lower than normal rates within Male’ city. These storage facilities are to be up to 3 or 4 storeys high. Expects to start the construction works to start soon and complete within 6 months, by then rules and regulations to lease the land would be finished’. Minister also …

3000 Housing Unit Development work hand over to Coral ...

The development of 3000 Housing units and Office complex has been handed over to a Sri Lankan company ‘Coral Holdings’. Sealife Complex are located near Hulhumale’ Central park on lot number N355, N356 and N35. Each of these blocks has two Buildings. Coral Property Developers, is a privately-held building construction firm based in Colombo, Sri Lanka. CORAL PROPERTY DEVELOPERS manages, develops and acquires Commercial and …

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