The Housing Development Corporation (HDC) has brought amendments to the Request for Proposals (RFP) and a previously made announcement in connection to the “Development and Sale of Mixed Residential Buildings in Hulhumalé”.

HDC initially made the announcement seeking parties for the “Development and Sale of Mixed Residential Buildings in Hulhumalé” in late July and interested parties were required to send in their proposals before September 24.

However, in an announcement made on Saturday, HDC revealed that the deadlines have been extended. As such, interested parties may register for the Clarification Session by 12pm August 19.

The deadline for inquiries is set at 12pm, September 3.

Amends have also been made to the instruction to proponents, as such, inclusive of joint venture companies and other locally registered businesses, the proponent’s proportion of local to foreign parties shall be a minimum of 30:70 ration, respectively, and the share proportion is to remain unchanged till the project completion.

Further, proponents may submit proposals for more than one plot. However, the proponent can submit only one proposal per plot. If a proponent wins the bid for more than one plot, the proponent will be given the opportunity to select only one plot for development. The forfeited plots shall be awarded to the next highest scoring proponent.

HDC revealed that a separate registration will be announced for the interested parties to submit proposals for the aforementioned development

A link is to be announced after the response to the queries has been uploaded on our website.

Additional information regarding the submission of proposals will be available on the RFP.

The four-apartment buildings will be constructed in the first phase of capital Malé City’s suburban extension Hulhumalé.

The “Development and Sale of Mixed Residential Buildings in Hulhumalé” project will see the construction of three 14-story towers and one 10-story tower. The 14-story three-apartment towers measure between 24,000, 26,000 and 30,000 square meters. The 10-story tower will measure about 12,000 square meters.

Local proponents are required to settle MVR 500,000 as bid security, whereas the amount is at USD 100,000 for foreign proponents.