STO Announces Two Units up for Lease at Harbor Food Court

State Trading Organization (STO) has revealed two units at the harbor food court of Male’ is now up for lease.

The two units up for lease are Unit 20 and Unit 26, which is located towards Izzuddin Magu. Both units are 960 square feet in size. The base rate for the lease is MVR 53 per square foot or its equivalent in US dollars.

According to STO, the bidding is open to all interested parties and the party which wins the bid is required to pay a security deposit of three months within seven days of notification. The lease period for a unit is five years, and the lessee will be required to start operations within one-month they are is granted the lease.

The Food Court has been developed with modern facilities such as common toilet & hand wash areas for each wing and convenience stores. STO revamped and opened the southwest harbor food court area in May 2018 under a venture which cost MVR 32 million. The food court area is locally named as Raaveribey Kohthu Veni.