STO announces rates for 'harbour' food courts

  • The spaces will be given out at a rate of MVR 53 per square foot
  • . At this rate, monthly fees of the smallest of said spaces would exceed MVR 50,000
  • STO said that the company wants cafés at the court to be operational in January

K. Male' | Shan Anees | 08-January-2018 | Monday 10:14 | twitter | Business | 2,634

-- Photo by: Fathimath Shana Mohamed

The State Trading Organization (STO) has followed through with plans to have cafés at the food court in Maafannu of Malé City operational soon.

On Sunday, the organization announced rates for which spots at the food court, located behind the harbour in the district, will be leased.

The food court consists of spaces in three sizes; cafés that are 960 square feet, 1,260 square feet, and 1,660 square feet.

The spaces will be given out at a rate of MVR 53 per square foot. At this rate, monthly fees of the smallest of said spaces would exceed MVR 50,000 while the rents for the largest nearly reach 100,000.

Last Thursday, an official from the organization said they opened bidding last month as well, which was closed due to ‘lack of support’.

The official further said that process is ongoing again and that ideally, outlets at the court will start serving within January.

The court has room for thirteen cafés, newly developed by a company operated by the military, and have all been finished but are yet to be furnished.

The STO has attested to having delays in the project, reportedly due to problems involving floor-planning and design.



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