Gov’t Announces 12,000 Housing Unit Project, Looking for Contractors
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Photo: Kulhudhuffushi City Council
The Ministry of Finance and Planning announced today the application for contractors to develop 12,000 housing units on 57 islands in the Maldives.
In an announcement on the Gazette the ministry said they are looking for contractors on behalf of the Ministry of Construction, Housing and Infrastructure. They are looking for contractors to design and build more than 12,000 housing units through Open National Competitive Bidding and Open International Competitive Bidding.
The housing project is to be divided into four categories;
- Category 1: up to 50 housing units
- Category 2: with 51-150 housing units
- Category 3: with 200-250 housing units
- Category 4: 300 or more housing units
The ministry is developing 18 housing units under Category 1, 17 housing units under Category 2, 10 housing units under Category 3 and 12 housing units under Category 4. The smallest project was announced for Alifu Dhaalu Atoll Dhigurah, where they are looking for contractors to design and build 30 housing units, while they are planning to develop 2,000 housing units in Kulhudhufushi City, which was the biggest housing project.
The Public Housing Project introduces flexible financing models for diverse contractor capabilities. These include 100 percent employer financing, contractor-arranged loans with a 15 percent equity contribution from the government, and full contractor financing.
According to the ministry, eligibility criteria vary by project size. For larger-scale developments, there are opportunities for both national contractors and international joint ventures.
With procurement notices set to be issued in February, the government has encouraged both national and international contractors to express their interest in advance. The Ministry of Finance and Planning’s National Tender Department will handle pre-qualification requests, ensuring a streamlined bidding process for eligible participants. Contractors interested in bidding for housing projects are advised to monitor official announcements and submit their applications through the designated procurement channels.