Maldives Islamic Bank (MIB) has once again announced the public auction of Mahchangolhi Kudhimagooge, with a starting price of over MVR 9 million.
Located in the capital city of Malé, where land demand remains exceptionally high, Kudhimagooge spans 830 square feet. MIB stated that the deadline for submitting auction bids is 1:00 pm on September 28.
According to the bank's announcement, the starting bid for the property is set at MVR 9,650,000 (nine million six hundred and fifty thousand Rufiyaa).
The bank further noted that once the deadline expires, submitted bids will be opened in the presence of the bidders in attendance, and the highest offer will be announced.
MIB specified that any subsequent bids must increase by a minimum of MVR 500,000 over the starting price. To participate in the auction, interested parties are required to submit a bid security of MVR 100,000.
For further information, MIB advises interested parties to contact 3011138 or reach out via email at auction@mib.com.mv.
