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

> With the fifth-floor slab poured, Bayfancy opened sales of its 18-storey building in Hulhumalé Phase 2: one-bedroom-plus apartments from MVR 3.5 million, 3+1 suites from MVR 6.2 million and sky villas from MVR 26 million, with Bank of Maldives as mortgage partner.

Source: Maldives Real Estate News, published by Binga Properties. URL: https://news.binga.mv/bayfancy-residence-opens-for-sale
Published: 2025-05-18T00:00:00Z · Updated: 2026-10-18T05:05:48.908Z · Event date: 2025-05-18

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

| Layout | Size | From |
|---|---|---|
| 1+1 "Noble Apartment" | about 735 sq ft | MVR 3.5 million |
| 2-bedroom "Cozy Residence" | 859–906 sq ft | MVR 4.1 million |
| 2+1 "Family Suite" | about 1,133 sq ft | MVR 5.2 million |
| 3+1 "Grand Suite" | 1,551–1,925 sq ft | MVR 6.2 million |
| Sky Villa | 6,100–6,500 sq ft | MVR 26 million |

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.*

## Sources
- mihaaru.com/business/145599 (Mihaaru, 18 May 2025: sales open; 20 per cent of the construction volume approved by HDC; layouts, sizes and starting prices; amenities; sales office) (https://mihaaru.com/business/145599 (Mihaaru, 18 May 2025: sales open; 20 per cent of the construction volume approved by HDC; layouts, sizes and starting prices; amenities; sales office))
- mihaaru.com/business/145880 (Mihaaru, 27 May 2025: Maldives Expo stall; 18 storeys; Bank of Maldives mortgage partner) (https://mihaaru.com/business/145880 (Mihaaru, 27 May 2025: Maldives Expo stall; 18 storeys; Bank of Maldives mortgage partner))
- mihaaru.com/business/141862 (Mihaaru, 16 January 2025: interview with managing director Woncar Chen on hydroponic balconies, smart-home systems, butler service, no commercial units, lobby) (https://mihaaru.com/business/141862 (Mihaaru, 16 January 2025: interview with managing director Woncar Chen on hydroponic balconies, smart-home systems, butler service, no commercial units, lobby))

Binga Properties is a real-estate concierge; it may represent homes and developments mentioned here.