Gov’t Seeks Developers for Mid-Range Hotels in Hulhumalé Integrated Tourism Zone

The government has announced a call for expressions of interest (EOI) from parties interested in developing and managing three mid-range hotels in the urban isle of Hulhumalé Phase 2, part of the integrated tourism zone.

In the announcement, the Housing Development Corporation (HDC) revealed that the submission process for EOIs is now open. The company has stated that it will prioritise proposals based on a land lease model, although other business models are also welcome.

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HDC emphasised that if multiple parties express interest in the project, the contract will be awarded to the party with the most comprehensive proposal. The evaluation criteria will include the proposed business model, the operator’s experience, and their commitment to corporate social responsibility (CSR).

Interested parties are encouraged to submit their EOIs via email to business@hdc.mv before 14:00 hrs on 29th August 2024.

The government’s plan to develop dedicated buildings for economic activity within the urban isle’s tourism zone was announced earlier. The commercial area under development is intended to support tourism boutiques and hotels, with some facilities already in progress.

In addition, HDC has announced a separate opportunity for the development of a dive centre in Hulhumalé Phase 1. Similar to the hotel project, priority will be given to proposals based on a land lease model, although other models will also be considered. The EOI for this project must detail the equipment, classes, and packages to be offered by the dive centre.

​​https://x.com/hdcmaldives/status/1824070633048928566

Prospective candidates for the dive centre project are also required to submit their EOIs by 29th August 2024 to business@hdc.mv. HDC has reiterated that the contract will be awarded to the most complete proposal, with evaluations considering the proposed business model, operator experience, and CSR initiatives.