MALE, September 8 (HNS) – Male Municipality Wednesday opened extra four land plots from the south-west harbour area of Male for bidding.
According to the municipality the auction of a 10,000 square feet land plot, a 5,000 square feet land plot and two 2,000 square feet land plots would start at Rf4,000.
An announcement issued by the authority noted that interested Maldivian individuals and 100-percent Maldivian companies should register in the auction and present 10 percent of the reserve price or a guarantee check.
The government earlier received Rf119.7 million from selling four land plots from the area.
Two 2,000 square feet land plots were sold to SunFront for Rf26.7 million, a 5,000 square feet land plot to owner of BHM Traders at a rate of Rf4,350 per square feet for Rf.21.7 million. The 7,500 square feet land plot was sold to Universal Enterprises for Rf46.5 million.
The municipality announcement noted that the winning companies should pay 10 percent of the price within seven days and the remaining should be paid within 60 days.