Developments
Bayfancy Residence, the address: Lot 20092 in Hulhumalé Phase 2
Bayfancy stands on Lot 20092 in Hulhumalé Phase 2, next to Blue Lagoon Luxury Residences, in a part of Hulhumalé still filling in. What living there looks like today and as the neighbourhood is built out.

Bayfancy Residence is on Lot 20092, Hulhumalé Phase 2. Its neighbour on Lot 20094 is Blue Lagoon Luxury Residences, another new tower.
The neighbourhood
Phase 2 is the newer, northern half of Hulhumalé, reclaimed after Phase 1 and still being built out:
- some streets are lined with finished towers and families moved in;
- others are still construction sites.
Bayfancy describes its outlook as across a large public park and civic spaces. At its launch it also listed a four-floor commercial centre and a 2,000-square-metre central park planned alongside the building.
Day to day
- Getting to Malé: by bus or car over the bridge, or from the ferry terminal in Phase 1.
- Shops and services: Phase 2's own shops are growing. Phase 1's established schools, clinics, supermarkets and Central Park are a short ride away.
- The airport: close for anyone who flies for work.
- Bayfancy's sales office: in Phase 1, at Infinity Hub on Mirihi Magu.
Who it suits
- Buyers looking ahead. Phase 2 has the newest buildings and the most land still to be developed, and its services will fill in over the coming years.
- Families wanting space and amenities in one building. Bayfancy's 2+1 and 3+1 layouts and its 17th-floor amenity level are aimed at them.
- Less so anyone who needs everything on the doorstep today. Some of Phase 2's daily life still means a trip to Phase 1.
What to check
Walk the streets around Lot 20092 on a weekday and an evening. Ask the developer and HDC:
- what is planned for the plots around it;
- when the commercial centre and park mentioned at launch will be built, and by whom.
See the building and the full timeline.
Ask the concierge about living in Phase 2
Sources and method
- bayfancy-progress-september-2026.vercel.app/ (Lot 20092, Hulhumalé Phase 2)
- www.bluelagoon.mv/ (Blue Lagoon Luxury Residences, Plot 20094, Hulhumalé Phase 2)
- bayfancy.com/news ("Living Well in the Heart of a Modern City", 24 January 2026: views over a public park and civic spaces; "Celebrate Your Next Ramadan at Bayfancy Residence", 26 February 2026)
- mihaaru.com/business/145599 (Mihaaru, 18 May 2025: commercial centre and park planned alongside; sales office in Hulhumalé Phase 1)
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. Spotted an error? Write to hello@binga.mv; corrections are noted at the foot of the piece.
- Area Hulhumalé Phase 2
- For buyers
- For tenants
- Organisation Bayfancy PTE LTD
- Development Bayfancy Residence
- Topic neighbourhood
Binga Properties is a real-estate concierge; it may represent homes and developments mentioned here.



