Developments
What your rent buys at Vinares
A furnished three-bedroom on the first floor was listed through Binga at MVR 35,000 a month in April. What that rent bought at Vinares, and what to ask about the rest of its 1,344 flats.
Vinares is a sold-out development of 1,344 flats in Hulhumalé Phase 2, so every home there is let by its owner. Binga has one data point so far, and here is what it bought.
The reference rent
A brand-new, fully furnished three-bedroom with three bathrooms, on the first floor, was listed through Binga at MVR 35,000 a month (asking, April 2026) and has since been let. The listing did not record the floor area. That is the listed price, not necessarily the agreed rent.
At the pegged rate of roughly 15.4 rufiyaa to the dollar, MVR 35,000 is about $2,270. It sits in the middle of the band the concierges quote for Greater Malé, which runs from about MVR 15,000 to MVR 55,000 and beyond for homes of one to four bedrooms. The neighbourhood guide describes Phase 2 as good value for space, and a furnished three-bedroom with a bathroom for each bedroom at that rent is consistent with that.
What the flats include
The catalogue describes four types of flat, set by the view: Marina View over the yacht marina and cruise terminal, Outer View towards the city, Inner View over the main roads, and Standard View within the towers. Expect rents to vary by type and floor. The first-floor home above is one reference, not the ceiling.
Finishes are consistent across the development, as described: tiled living rooms and bedrooms, tiled bathrooms with fixtures fitted, and kitchens with full cabinet sets. A flat let unfurnished therefore still arrives with a working kitchen and bathrooms.
What the development adds
The catalogue lists four elevators, parking space, CCTV monitoring and easy access to ATMs, and two floors leased for commercial use, including gyms, cafés and convenience stores. It lists no pool, no residents' gym separate from the commercial floors, and no backup power, so the desk does not assume any of them. Ask the concierge to check the service charge, the parking allocation and how many lifts serve the block you would live in.
The catalogue does not name a developer, and neither does this piece.
Renting through Binga
Every home a concierge introduces has been inspected and the owner verified. The agreement is with the owner, written under the Residential Tenancy Act, with no broker layer on top of the rent. Ask for the furnishing inventory in writing.
The next step: send a tenant brief at https://concierge.binga.mv/tenants, or message +960 778-3395 on WhatsApp, with your budget, bedrooms, furnishing, preferred view and move-in date. A concierge will shortlist homes at Vinares and nearby in Phase 2 and arrange the viewings.
Tell the concierge what you need
Sources and method
- Binga catalogue record for Vinares (content; 13 floors, 1,344 homes, 10 blocks; status sold), including the developer's published description
- Binga listing: 3-Bedroom Residence at Vinares (rented, listed Apr 2026, MVR 35,000)
- Earlier reporting by the desk
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.
Binga Properties is a real-estate concierge; it may represent homes and developments mentioned here.
