Company being sought for Hulhumale' luxury housing project

Housing Development Corporation (HDC) has stated that they are seeking a company for a mixed luxury residential project for Hulhumale' Phase 2.

HDC has requested interested parties to submit their Expression of Interest (EIO) by 24th December, 12:00 pm. 

HDC stated that a 125,387 square foot plot has been arranged for the Hulhumale' Phase 2 project. Buildings spanning 47 meters in height can be built there.

A Development and Sale Rights model will be prioritized in awarding the project. However, as HDC has stated, the corporation's EIO can be submitted to other models, with benefits to both parties to be listed as well.

If more than one party expresses interest, the project will be handed over to the company that has the most complete vision, master plan and EIO, said HDC.

HDC said that they will consider things such as the business model, experience, contractor terms and their financial status when evaluating the EIO's.