Commercial Bank of Maldives announced a third auction of two Malé land plots, Maafannu Doragali 2 and Maafannu Doragali 3, after the owner defaulted on loan repayments. The bank set a combined minimum reserve price of MVR 3.8 million, with bids due by 2:00 pm on November 1.
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The bank has set a combined minimum reserve price of MVR 3.8 million for both plots and the structures standing on them.
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Each plot measures 190.65 square feet, bringing the total area offered for sale to 381.30 square feet.
Word for word from the report in Adhadhu (English). Open the report
Each plot measures 190.65 square feet, bringing the total area offered for sale to 381.30 square feet.
Word for word from the report in Adhadhu (English). Open the report
The tender documents are priced at MVR 1,000 and are available through the bank’s official website or at the CBM Head Office located on the second floor of Henveiru Filigasdhoshuge.
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The bank has outlined several key requirements for prospective bidders, including a mandatory bid security of MVR 25,000.
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