guides

25 Feb 2020

Commercial Space Allocation from Hulhumale'

1. Objective

The main objective is to build a strong commercial lease clientele, reduce vacancy rates and maximize revenue, while enhancing the overall brand identity of Hulhumale’. Commercial Units will be allocated to parties by Request for Proposals (RFP) or Direct allocation under direct allocation policy. As per HDC’s direct allocation policy, Anchor Tenants, franchise or renowned brands will be eligible for direct allocation of commercial space.

The upcoming commercial space will create significant amount of commercial space will provide opportunity for business growth and solutions for parties who wants to venture their business in Hulhumale’.

2. HDC Properties

The HDC commercial Properties are built to capture the commercial need of the population of Hulhumale. HDC will open commercial spaces from the existing HDC properties with new vacancies of the space. The following are the existing properties of HDC and the allocated commercial usage. 

 

#

Property Name

Allocated Usage

1

Centro

Supermarket

Retail

Café & Restaurants

Garment

Institutional

2

Community Center – Fahiveni

Entertainment

Café & Restaurants

Fitness and Wellness Center

3

Commercial Block A,B,C,D & E

Supermarket

Retail

Café & Restaurants

Garment

Fitness and Wellness Center

Office Space

 

3. Upcoming Commercial Space

The upcoming commercial spaces are in Mixed Residential Buildings in Phase I and in Hiyaa apartments in Hulhumale Phase II.

3.1 Mixed Residential

 

#

Plot No

Name

1

D10-4C

Marina View - Batch Apartments

2

C4-3

One Avenue – Damas Real Estate

3

D2-3

Oceanfront Residences - Rainbow Construction

4

C2-4

Rain crest - Rainbow Singhal

5

C4-1

The Apollo Towers – Apollo Holdings

6

C4-2

Fitron Residences – Muni Enterprises

7

C1-1

FW Residence – FW Construction Co

8

C4-4

Aira - Ensis Group

 

3.2 Allocated usages of commercial Space for mix residential building

 

 #

Name

 Approx. No. of Outlets

 1

Superstore

 1

 2

Supermarket

 1

 3

Grocers, Convenience Store & Mini Mart

 4

 4

Café & Restaurants

 5

 5

Specialty Coffee / Beverages

 2

 6

Bakery

 2

 7

Clothing, Fashion & Fabric

 8

 8

Clinic & Pharmaceuticals

 2

 9

Beauty & Cosmetics

 2

 10

Salon & Spa

 2

 11

Kids & Toys

 2

 12

Bookshops & Stationaries

 2

 13

Computer & IT

 2

 14

Fitness & Wellbeing

 2

 15

Furniture & Home Improvement

 2

 16

Services Centre

 3

 17

Marine Showroom

 1

 18

Leisure and Entertainment

 2

 19

Sportswear and Equipment

 2

 20

Hobbies and Interests

 3

 21

Institutional

 2

 22

Essential Services - SOE / Government

 3

 23

SME Allocation

 5

 

3.3 Hiyaa Commercial – Hulhumale Phase 2

The biggest housing initiative in Maldives history was launched in the year 2017. The project is targeted as a high dense housing project to cater around 30,000 to 40,000 people. The space is created in the ground floor are dedicated for commercial developments.

3.2 Hiya Commercial

 

#

Category or Usage

Approx. No of outlets

1

Super market

2

2

Daycare

2

3

Clinics

3

4

F&B Outlet (Café’ and Restaurant)

7

5

Bookshops

2

6

Saloon

1

7

Grocery stores

5

9

Barber shops

2

10

Pharmacy

3

11

Banking Units

3

12

Essential Services - SOE / Government

3

13

Open for tenants to define usage

12

14

SMEs Allocation

33

 

3.2.1 Sales Allocation Timeline

 
STAGE 1
  Usage No. of Outlets Status
1 Supermarket 2 Announced on 17th December 2020
3 Grocery stores  2
5 Café 2
7 Clinic 1
8 Pharmacy 1
STAGE 2
  Usage No. of Outlets Status
1 Clinic 1 RFP to be Announced on W3 of February 2021
2 Café 2
3 Bookshop 1
4 Grocery stores  2
5 Saloon 1
6 Barbershop 1
7 Pharmacy 1
STAGE 3
  Usage No. of Outlets Status
1 Daycare 2 RFP to be Announced on W3 of March 2021
2 Café 3
3 Grocery stores  1
4 Bookshop 1
5 Clinic 1
6 Pharmacy 1
7 Barbershop 1
STAGE 4
  Usage No. of Outlets Status
1 SME Allocation 20 RFP to be Announced on W3 of April 2021
2 Open Market 10

 

FOR MORE INFORMATION CONTACT

 

Housing Development Corporation

HDC Building, Hulhumale’, Rep. of Maldives

+(960) 335 3535, F. +( 960) 335 8892,

mail@hdc.com.mv,

www.hdc.com.mv

properties.hdc.com.mv