Bayfancy Residence opens for sale at 20 per cent built, from MVR 3.5 million

Bayfancy opened sales of Bayfancy Residence on 18 May 2025. The building had passed its fifth floor, and the developer said 20 per cent of the construction volume approved by HDC was complete. It is an 18-storey building in Hulhumalé Phase 2, and sales were offered off plan.

What was on offer

At launch prices, a 2+1 Family Suite worked out at roughly MVR 4,600 a square foot.

What the developer promised

In January, managing director Woncar Chen had set out the idea:

• every apartment with a large balcony and a hydroponic planter for growing vegetables;
• smart-home controls for air-conditioning, lighting and entertainment, by voice or phone;
• a butler service;
• a lobby with a ceiling of about 6.6 metres, covering 150 square metres;
• no shops inside the building, to keep it private. Bayfancy said it had taken the plot next door for commercial use instead.

At the sales launch it added floor-to-ceiling windows, wide views from the balconies, and an observation level on the 17th floor. It also listed a four-floor commercial centre and a 2,000-square-metre central park alongside the residence.

Where to buy

Sales ran from Bayfancy's office on the second floor of Infinity Hub, Mirihi Magu, Hulhumalé Phase 1. The week after the launch, Bayfancy also took a stall at the Maldives Expo in Central Park, where Bank of Maldives was named as its mortgage partner. President Mohamed Muizzu visited the stall.

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.