Housing Development Corporation (HDC) fosters investing in commercial spaces to fulfill the needs of residents and build a strong commercial clientele which stimulates economic solutions and tackles the social challenges faced by our society.
As Hulhumale’ is a beacon of development it promises diverse opportunities to invest in commercial areas. As such, HDC provides substantial investment opportunities for International franchises and Large Enterprises, with these commercial space allocations. Opportunities are also given to local businesses and MSME’s who has a foothold in our community in enhancing the country’s culture and traditions.
It is within the objectives of HDC to allocate these commercial spaces effectively. This is mainly done in two ways which is through Request for proposal (RFP) and through Direct allocation. Request for Proposals (RFP), will help allocate commercial space to the most competent party. The other method is through direct allocation, where HDC directly allocates leasable commercial spaces to Anchor Tenants, Franchise and Renowned Brands. This is to provide the required products/ services for the surrounding residences in the neighborhood, for the provision of products and services not available in Hulhumale’. Moreover, this increases the attractiveness and value of the neighborhood. Interested parties can also show their interest in leasing commercial spaces and submit an EOI form (published on HDC website).
Currently, commercial properties in Hulhumale’ Phase I includes Centro, Community center – Fahiveni, Commercial Block A, B, C & D and commercial areas in Mixed Residential buildings. Moreover, Hulhumale’ Phase II, the newly reclaimed addition to the existing conurbation has allocated commercial properties which includes, Hiyaa Commercial. In essence, these commercial properties are built to capture the needs of the population and to acquaint an all-encompassing lifestyle focused on investing for the long-term future.
The ongoing and the upcoming commercial spaces from the new developments and vacant commercial units from the existing developments will be published with allocated usage on MyHulhumale properties website (properties.hdc.com.mv).