With Hulhumalé Phase II still under development and limited retail outlets available, these new commercial spaces are expected to play a crucial role in boosting the area’s growth and meeting the needs of its residents.
FDC
The Gedhoruveriya Housing Scheme, spearheaded by Fahi Dhiriulhun Corporation (FDC), is making significant progress with the development of 4,000 new housing units in Hulhumalé Phase II. This initiative not only addresses the critical need for affordable housing in the city but also paves the way for business expansion opportunities within the newly constructed buildings.
FDC has announced plans to open applications for 127 commercial spaces spread across 32 units in these developments. These spaces will cater to various business needs, including retail shops, supermarkets, hypermarkets, cafés, restaurants, clinics, office spaces, and even designated areas for fruit and vegetable markets.
With Hulhumalé Phase II still under development and limited retail outlets available, these new commercial spaces are expected to play a crucial role in boosting the area’s growth and meeting the needs of its residents.
The commercial units range from 580 to 6,200 square feet, making them suitable for both small and medium-sized businesses. FDC has revealed that spaces will be priced between MVR 40-45 per square foot. For instance, the smallest units will start at approximately MVR 30,000. Additional space requirements can also be accommodated based on business needs.
To ensure organized leasing, FDC plans to divide the spaces into six zones, with the first zone set to open for lease within the week.
This initiative represents a promising opportunity for entrepreneurs and businesses aiming to establish or expand their presence in Hulhumalé Phase II. As the area continues to develop, these commercial spaces are expected to be key drivers of economic and social growth.
