Hulhumalé Phase 2

Hulhumalé Phase 2 is the Maldives' boldest urban development project — a 244-hectare land reclamation that effectively doubles the size of Hulhumalé island. Launched under the Gedhoruveriya Housing Scheme, Phase 2 is designed as a sustainable, green-first district with over ten parks, dedicated cycling paths, and low-rise residential towers surrounded by landscaped open space. The masterplan envisions a population of 120,000, making it one of the most significant urban developments in South Asian island nations. For property investors, Phase 2 represents a ground-floor entry into a planned city with institutional backing. The HDC is developing 4,000 new housing units in the initial phase, with plots available through government allocation and public auction. Early buyers are positioning for significant capital appreciation as infrastructure — including the Maldives' first multi-lane highway connecting Phase 2 to the airport — nears completion. Waterfront plots and second-line residential land have seen auction prices ranging from MVR 4,000 to MVR 5,500 per square foot, with premium parcels commanding over MVR 9,700/sqft.

Hulhumalé Phase 2 in Hulhumale, Kaafu Atoll, Maldives