Housing Development Corporation (HDC) has announced the sale of land plots in Thilafushi Phase II for industrial purposes.
HDC stated that the sale will be carried out in a series of phases. As such, the sale of land of plots under the first phase will be carried out from Zone A of Thilafushi Phase II. Any individual or company can apply for the land plots and freehold rights will be granted to local applicants while 99 years of leasehold rights will be granted to foreign applicants. The base rate of the plots is USD110 per square foot.
The process will consist of the submission of the Expression of Interest (EOI) and the submission of bids. Interested parties can submit their application to HDC’s online portal which is scheduled to be launched on February 7. Further details regarding the sale and the online portal will be published on the website of HDC and the Government Gazette on the same date.