Launches
Bayfancy Residence pours its basement slab ahead of schedule and starts to rise
On 9 March 2025 Bayfancy Residence poured its basement slab, ahead of the 20 March target the developer had set, and moved above ground: the ground-floor slab followed on 23 March and the first floor on 30 March.

Bayfancy Residence finished its work below ground in March 2025, and earlier than it had said it would.
The run-up
In January the team cut the foundation piles to level, filled them with concrete and waterproofed the base of the basement. By late February Bayfancy said:
- the job was on schedule;
- reinforcement for the basement was under way;
- steel, concrete and formwork on site were enough to build up to the 14th floor without waiting on shipments.
It set itself 20 March to pour the basement slab.
The pour
The basement slab was poured on 9 March 2025, eleven days early. Then the building began to climb quickly:
- ground-floor slab on 23 March;
- first-floor slab on 30 March.
Why the early weeks matter
For buyers of an apartment still on paper, the first months of a site are the best evidence of how it will run. Materials stocked ahead, a basement done early, and slabs following at weekly intervals were the signs Bayfancy pointed to. The real test was whether the pace would hold above ground.
Written for Binga's Bayfancy record on 18 October 2026 from the developer's announcements and press coverage at the time. Dated to the event it reports.
Ask the concierge about Bayfancy Residence
Sources and method
- mihaaru.com/business (Mihaaru, 24 February 2025, "Imaaraathuge masakkaiythah schedule aa eh gothah dhanee kuriah", republished on bayfancy.com/news: piling cut, basement waterproofing, materials on site, basement slab expected by 20 March)
- bayfancy.com/news (Bayfancy news: basement slab completed 9 March 2025; ground-floor slab 23 March; first-floor slab 30 March)
- edition.mv/business/42557 (The Edition, 15 July 2025: basement slab poured 9 March 2025)
Prices are asking prices as listed through Binga unless marked achieved, and are dated. Developer descriptions are reported as the developer's own. Facts the desk could not verify are left out. This piece was last updated 18 October 2026. Spotted an error? Write to hello@binga.mv; corrections are noted at the foot of the piece.
- Area Hulhumalé Phase 2
- For buyers
- Organisation Bayfancy PTE LTD
- Development Bayfancy Residence
- Topic construction
Binga Properties is a real-estate concierge; it may represent homes and developments mentioned here.



