PPP project launched for 1,000 affordable flats in Hulhumalé Phase 3
The maximum sale price has been set at MVR 2.3 million for three-bedroom units and MVR 1.8 million for two-bedroom units.
The Ministry of Housing on Thursday invited contractors to submit proposals for the construction of 1,000 housing units in Phase 3 of Hulhumalé under a public–private partnership (PPP) model.
In an announcement, the ministry said companies registered in the Maldives with 100 per cent Maldivian shareholding will be eligible to apply for the project.
The ministry said the design, development and implementation of the project will be carried out under the PPP framework.
Under the project, housing units will be built on five plots in Hulhumalé Phase 3, with 200 units planned on each plot. The ministry said land for construction will be allocated at no cost, and the completed units will be sold by the developer to buyers designated by the ministry.
The project will include three-bedroom units with a minimum area of 950 square feet and two-bedroom units with a minimum area of 700 square feet. The maximum sale price has been set at MVR 2.3 million for three-bedroom units and MVR 1.8 million for two-bedroom units.
According to the ministry, construction must be completed within 30 months from the date the plots are handed over, and the units must be delivered to buyers within that period.
The ministry said project information will be available until 8 March. Proposals must be submitted by 23 March, with clarifications and submissions to be sent by email to [email protected].
