Urbanco has announced that they are looking for developers to build and sell luxury residential flats in five areas of Hulhumale'.

According to an announcement made by Urbanco, these luxury residential flats will come up in Hulhumale' phase 1. Those interested in constructing luxury residential flats on these lands can submit their bids on August 17, with the bidding set to opened on the same day.

These flats will be constructed on two plots in front of Hulhumale' Ferry Terminal and three plots in front of Dhiraagu Hulhumale' Office. Of these, the three plots of land announced to be allotted for the construction of flats in front of Dhiraagu was earlier sold to the Villa Company. Urbanco recently allotted a total of 5,49,905 square feet in two plots of land from Thilafushi to Villa Company in lieu of the 90,000 square feet of land allotted to it for the construction of the flat in Hulhumale'.

Urbanco has announced that companies interested in constructing flats on these plots will have to submit MVR 500,000 as bid security at the time of submission of proposals.

These lands are;

Lot 10322 - 25,660 sq ft of land

Lot 11808 - 24,961 sq ft of land

Lot 11,809 - 24,652 sq ft of land

Lot 11828 - 20,727 sq ft of land

Lot 11829 - 23,229 sq ft of land

According to Urbanco's announcement, these plots will have to house apartments with 1+2 (1,000 sq ft) and 3+1+3 (1,300 sq ft) rooms.

Each apartment should have a living room, a kitchen, a laundry, and a balcony.

As part of the master plan for Hulhumale' development, Urbanco is already undertaking projects to build residential flats by handing it over to private companies.