Maldives Monetary Authority (MMA) has invited expressions of interest for the construction of a new office building in Hulhumale'.

The central bank plans to develop an 8,064-square-metre site to address its existing space constraints.

The proposed building will include administrative offices, facilities for cash handling and management, a training and conference hall, and dedicated office units for financial institutions.

The project is also intended to provide adequate space for security measures required to safeguard the state treasury and ensure the secure handling of funds received from banks.

The contractor will be required to finance 85 to 90 percent of the project, with the remaining costs to be covered by MMA.

Interested parties have been invited to submit expressions of interest to the MMA by October 6.