SJ Group brings SJ Dhihereya Residence to market: 90 lagoon-side apartments in Hulhumalé

SJ Group has put a new residential building on the market in Hulhumalé. SJ Dhihereya Residence is a block of 90 apartments on the west side of Hulhumalé Phase 1, facing the lagoon between Hulhumalé, the airport and Malé. Bookings were announced on 13 October 2026. The developer expects the building to be complete by 30 December 2028.

One thing buyers should know first. Since 14 October, SJ Group's own listing has shown the development as "Temporarily On-Hold". When we checked on 16 October, 7 of the 90 apartments were already marked as booked. The developer has not said why sales were paused or when they will reopen. We will report it when it does.

What is for sale

• 90 apartments on floors 4 to 12, ten to a floor. Half face the lagoon ("ocean view") and half face the city.
• Four layouts: two-bedroom (28 homes), two-bedroom with an extra room, listed as 2+1 (9), three-bedroom (8) and three-bedroom with an extra room, 3+1 (45).
• Sizes run from about 1,009 to 1,660 square feet.
• Prices run from MVR 3,632,270 for a 1,009 sq ft two-bedroom facing the city on the fifth floor, to MVR 6,438,115 for a 3+1 on the twelfth. Most of the building sits between MVR 3,500 and 4,300 a square foot.
• Shared spaces: an infinity pool, a common terrace and a gym. Basement parking, round-the-clock security and a garbage chute on every floor complete the list.

The terms in brief

• Discounts: 2 per cent off the list price for paying at least half at booking, and 5 per cent for paying in full.
• Priority: full-payment buyers are served first, then buyers putting in the most equity (pension savings do not count towards it).
• Bank financing: buyers using end-user financing may be asked for proof of income.
• Cancelling: a confirmed booking can be cancelled, but 30 per cent of the booking and commitment fees is kept.

We set the terms out in full, with what to check before paying, in a later piece in this series.

Who is building it

SJ Group grew out of SJ Construction, a Maldivian contractor working since 1996 on schools, mosques, housing and public works. The group added a trading arm, SJ Trade, in 2017. In Hulhumalé it lists SJ Creek Residence as finished and SJ Nove Residence as selling. That is a builder's background, which matters to buyers paying in stages for a home that will not be finished for two years.

Where it sits

The site is on the lagoon edge of Hulhumalé Phase 1. Its west-facing apartments look across the water towards Malé, and they catch the sunset. The ferry terminal, Central Park, schools, supermarkets, mosques and Tree Top Hospital are all a short distance away, and the airport is minutes off. We walk the neighbourhood in a later piece.

What happens next

Over the coming week this series covers:

• every apartment, floor and price;
• what daily life on the lagoon side is like;
• the booking terms and what to check before paying;
• what the numbers say for anyone buying to let.

If you are weighing SJ Dhihereya against other new buildings in Hulhumalé, the concierge can lay them side by side on WhatsApp.