Housing Development Corporation (HDC) has announced “Co-Living Housing” project in Hulhumalé Phase II to offer affordable living in the Greater Male’ Region, to those who are willing to co-share accommodation and amenities.
This project will enable individuals pursuing education (courses and trainings) and working professionals to live communally and conveniently at an affordable rent, while sharing space and resources. It is a sustainable housing solution that addresses the issue of costly rent and congestion in the Greater Male’ Region.
According to a research conducted by HDC, it was depicted that majority of working professionals and individuals engaged in education pays more than MVR 5,000 as rent per month which is excluding the other utilities. Hence, around 56% participants were interested in Co-Living Housing project and are likely to stay in a Co-Living accommodation for more than 1 year.
Co-Living Housing concept designed by HDC provides a wide range of amenities from a pantry to an outdoor gym. It has been planned to provide tenants with a common space & courtyard, BBQ area, café, laundry, shops, lobby, and basement parking area. This housing unit is projected to comprises of twin-sharing rooms and single rooms with attached bathrooms.
Co-Living Housing is a globally rising housing trend, thus it’s a very appealing real estate opportunity for developers. A minimum of 9 floors are planned to be designated for twin-sharing rooms, while developers have the flexibility to choose rent model for the remaining 2 floors, either to use as co-living rooms or rooms for daily rent.
HDC has allocated Lot N4-42 which has total area of 16,934.07 sqft for the project. A maximum of 14 floors are to be constructed under project. Lot N4-42 is located at a prominent location of Phase II.
HDC has announced submission of RFP for Co-Living Housing on 25th November 2020. Interested parties can submit their proposals on 17th January 2021 14:00hrs.
RFP for Development and Operation of Co-Living Housing is available on Corporate and Properties website.