The government has announced a tender to develop a shopping mall and hotel or a quality apartment complex with a 50 year lease in the land plot facing Rasfannu, capital Male’s western artificial beach.
The tender documents released by the finance ministry regarding the project highlighted that despite the numerous infrastructural projects conducted in Male, especially housing, the demand for housing is still on the rise.
Finance ministry also noted in their statement the lack of a large shopping complex in Male for retail businesses and absence of shops to sell high profile brands. The ministry declared that the objective of the mixed development project is to establish a complex to sell high quality products to the large population of Male and visiting tourists.
The shopping mall and hotel or apartment complex is to be developed in plot 399, next to state-run Indira Gandhi Memorial Hospital in front of Rasfannu, which measures 6,512 square meters (approx. 70,000 square feet). Interested bidders are to submit their proposals before June 27.
According to the statement, the contractor will receive 80 percent of the allocated land plot to construct the complex with a height limitation of maximum 60 meters (196 feet). The tender document further specifies that a sports complex must be developed from the ground floor up to nine metres, of which 20 percent of the area is to remain bare.
Further details of structures to be included in the complex include retail shops, café, restaurant, supermarket, department stores, and offices for lease, conference, room, auditorium, recreation areas and automobile parking lot. The tender also states that 30 percent of the complex will be allocated for the hotel or luxury apartments.
The project is to be completed within two years of signing the contract.