Govt amends tender conditions for Hulhumalé housing project

The Ministry of Housing on Wednesday reissued the request for proposals (RFP) for the construction of 1,000 housing units in Phase III of Hulhumalé after revising requirements for developers.

The project will be implemented under a public-private partnership model.

Under the revised terms, the requirement for developers to provide insurance for end users or buyers has been removed.

The requirement for a letter of comfort from a financial institution has also been amended. Previously, developers were required to provide proof of funds covering 100% of the construction cost.

According to the ministry, the housing units will be developed on five plots in Phase III, with 200 units planned for each plot.

Land will be allocated for the construction at no cost, and the completed units will be sold to buyers designated by the ministry through the developer.

The project includes the construction of two-bedroom and three-bedroom apartments.

Three-bedroom units will have a minimum size of 950 square feet, while two-bedroom units will have a minimum size of 700 square feet.

The maximum price for a three-bedroom unit has been set at MVR 2.3 million, while the maximum price for a two-bedroom unit has been set at MVR 1.8 million.

The ministry said construction must be completed within 30 months from the date the plots are handed over, with units to be delivered to buyers upon completion.

Information on the project will be available until the 22nd of this month.

The deadline for submission of proposals is the 31st of this month. Proposals must be submitted by email to [email protected].