Bids invited for 50-bed tourist hotel development in Nilandhoo

The Ministry of Tourism on Thursday issued a tender for the development and operation of a tourist hotel in Nilandhoo.

According to the ministry, the project involves the construction of a 50-bed hotel, comprising at least 25 rooms, on a plot of land measuring 13,300 square feet in Nilandhoo.

Under the tender terms, the land will be leased for a period of 50 years. The developer will be required to complete construction within two years from the date of signing the agreement.

The lease acquisition cost has been set at a minimum of USD 50,000, equivalent to MVR 773,000. A bank guarantee of USD 5,000, or MVR 77,300, is required as bid security.

Land rent will begin at a minimum rate of USD 4 per acre for the first 10 years. The rent will increase by 10 per cent for years 11 to 20, by 15 per cent for years 21 to 30, and by 20 per cent for years 31 to 35.

The ministry said a minimum contribution of USD 20,000, equivalent to MVR 309,200, is required for corporate social responsibility purposes. This amount is to be paid in instalments during the construction period.

An online information session for interested parties will be held at 10:00 am on 24 February.

The deadline for submission of bids is 12:00 noon on 1 April 2026. Bid documents will be available from 2 February to March.