Govt seeks bids for 2,100 affordable flats across 13 islands
At least 60 per cent of the apartments must be allocated as affordable housing units. The maximum selling price is MVR 1.5 million.
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The Ministry of Housing, Land and Urban Development has invited proposals from local developers to construct 2,100 affordable housing units across 13 inhabited islands under a public-private partnership (PPP) model.
The ministry announced the tender on Thursday. Proposals must be submitted by 1:00 pm on 17 August.
The project involves the construction of three-bedroom apartment buildings with ground-floor parking and commercial space.
According to the ministry, bidding is open only to entities registered in the Maldives that are wholly Maldivian-owned, including private companies, non-governmental organisations and local consortia.
The ministry said the project forms part of the government's housing programme and is intended to increase the supply of affordable housing while expanding the role of the private sector in residential development.
Under the scheme, developers will be responsible for arranging project financing. They will be permitted to sell the completed apartments, subject to conditions set by the government.
The ministry said:
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At least 60 per cent of the apartments must be allocated as affordable housing units.
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Affordable housing units must have a minimum floor area of 900 square feet.
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The maximum selling price for an affordable housing unit is MVR 1.5 million.
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Developers may offer lower selling prices.
The proposed developments are planned for the following islands:
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HA. Hoarafushi: 100
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R. Ungoofaaru: 100
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B. Thulhaadhoo: 50
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Lh. Naifaru: 300
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M. Muli: 100
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Dh. Meedhoo: 100
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L. Gan: 200
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GDh. Thinadhoo: 300
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Fuvahmulah: 300
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Addu Hithadhoo: 300
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Addu Feydhoo: 200
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Addu Maradhoofeydhoo: 25
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Addu Maradhoo: 25
The ministry said the initiative is also intended to strengthen the capacity of Maldivian property developers through greater participation in national housing projects.
