Bids invited for Hajj Corporation’s residential development in Hulhumalé
The project is open to developers seeking to construct a residential building in Hulhumalé Phase II under a contractor finance model.
Hajj Corporation's Managing Director, Mohamed Shakeel | Maldives Hajj Coporation
The Maldives Hajj Corporation has officially announced an invitation for interested parties to undertake the construction of a residential building under its housing project in Hulhumalé.
The announcement was made on Tuesday.
The project is open to developers seeking to construct a residential building in Hulhumalé Phase II under a contractor finance model.
According to the Hajj Corporation’s announcement, the deadline for bid registration is January 12. The bid opening is scheduled to take place at 11am on February 2 at the Hajj Corporation’s head office.
A non-refundable registration fee of MVR 30,000 or USD 2,000 is required to participate in the bidding process.
In addition to this, bidders are required to submit a bid security of MVR two million or its equivalent in U.S. dollars.
The Hajj Corporation decided to launch the housing project under the name Niyam Residence and signed an agreement with the Fahi Dhiriulhun Corporation on 24 September 2024, for the project’s design phase.
Under this agreement, FDC is responsible for providing architectural and engineering drawings, as well as consultancy services for the development.
The Managing Director of the Hajj Corporation, Mohamed Shakeel, has previously stated that apartments developed under this project will be made available for public purchase.
However, details regarding the total number of apartments and additional project specifications have yet to be disclosed.
In May 2024, the Hajj Corporation acquired two land plots in Hulhumalé. Construction of a nine-storey office building on one of these plots, which measures 5,000 square feet, began in September 2024.
The office building project was awarded to Medtech Maldives Private Limited for MVR 79.1 million under a contractor finance model, with completion expected within 18 months.
Earlier, in November 2024, the Hajj Corporation announced plans to enter the Halal tourism sector. However, in early December of the same year, the Minister of Finance raised concerns, indicating that such a venture may not produce favorable results.
