STO to construct 25 storey building for USD 18 million

State Trading Organization (STO) has announced that they are seeking a contractor to build a 25 storey commercial building in Male'.

The announcement said that the biggest challenge faced by the company at present is office space constraints. They said that the new building, when complete, would resolve the issues faced by STO Head Office at present.

STO said that the building would provide space for commercial activities besides office space for employees.

The new building is expected to cost USD 18 million (MVR 278 million) in a 1,393 square meter area. The plot for the building is the empty land located next to the current STO Head Office.

STO appealed to contractors to submit Expressions of Interest (EOI). The project will be conducted under contractor financing.

STO will provide the opportunity for shortlisted contractors to send in proposals later on.