The Maldives Monetary Authority (MMA) has purchased a 43,000 square feet plot of land in Hulhumale' for MVR 210.9 million.
The MMA bought the land at the rate of MVR 4860 per square feet, according to the Civil Court judgment on the land sale transaction.
The MMA's media official told Adhadhu that the plot was purchased to build the central bank's new office.
The busy traffic and adjacent buildings near the MMA's current office in Male' pose difficulties in making security arrangements, the official said.
Adhadhu has learned that the plot purchased by the MMA is west of the Central Park in Hulhumale' phase one and next to the K-Park flats.
The MMA moved to its current office in 2008 after the old Majeedhee building used since the central bank's inception was demolished.
