Bayfancy Residence, the full story: from the first pile to a June 2027 handover

Bayfancy has reported the construction of Bayfancy Residence almost week by week since the first pile went in, from slab-by-slab notices to monthly engineering reports. Here is the full record. Each dated milestone below links to our report on it.

At a glance

The timeline

Bayfancy's own report dates its completed milestones as: foundation works, March 2025; superstructure, October 2025; masonry, February 2026; plastering, August 2026.

The handover date, as it has moved

The current date is six months later than the one given last December. The frame was fast: ten and a half months from first pile to topping out. The interior has taken longer than the early schedule allowed.

One detail for buyers to raise: the header of Bayfancy's September report still says handover "30th of June 2026", while its own schedule in the same report runs to 30 June 2027. We read the schedule as correct. Ask the developer to confirm the date in writing.

Prices, then and now

"From" prices may reflect which homes are still unsold as well as changes to the price list. Read together, they show starting prices about 7 per cent higher for the 1+1 and between 17 and 23 per cent higher for the larger layouts, sixteen months on. Bank of Maldives was named as mortgage partner at the 2025 launch.

Where the site stands (October 2026)

Bayfancy's October report lists thirteen works under way, most due by the end of the month:

• Top floors: aluminium doors and windows starting on levels 16–18, and the external scaffolding starting to come down from levels 17–18.
• Outside the building: facade drainage pipes on levels 15–18, half done.
• Throughout: incoming electrical lines and smoke-detector wiring on levels 8–16 at 60 per cent, garbage-chute sealing from the ground floor up, and fire doors on the service shafts.
• Upper middle floors: ceilings closing on level 17 and levels 9–10, and putty and tiling on levels 10–11 (30 and 40 per cent).
• Lower floors: floor levelling on levels 4–6, and water and electrical pipes on levels 5–7.
• Air-conditioning: levels 7–8, half done.

What is left: the road to handover

The schedule leaves about ten days between each of the last three stages. That leaves little room if inspections find work to redo. The windows and lifts due in January are the next dates to watch: if they hold, the rest of the schedule is credible.

If you are buying now

1. Get the handover date in writing, and what the agreement provides if it moves again.
2. Check what changed with the new shareholder in October 2025: who signs your agreement, and whether earlier buyers' contracts carry over unchanged.
3. Fix the specification. Visit the materials showroom and ask for the brands and models you see to be named in the contract, or an equal standard.
4. Ask for the service charge for the level-17 amenities, the butler service and the lifts before you commit.
5. Compare the price per square foot with finished buildings nearby. A home you can move into today has no completion risk.

We will update this page with each monthly report. The concierge can walk you through Bayfancy alongside other new buildings in Hulhumalé Phase 2.