The Housing Development Corporation (HDC) has announced an invitation for the submission of Expressions of Interest (EOIs) for the development and operation of a dive center in Hulhumalé. The notice, issued yesterday, invites interested developers to submit their EOIs no later than 14:00 on October 13, 2024.
The preferred business model for the project is a lease model, though HDC emphasizes that this is not the sole option and proponents are encouraged to propose alternative models that provide mutual benefits for both parties. The submission must include a clear statement of the benefits and a concept design of the dive center.
HDC outlines specific criteria for eligibility. Companies must have no outstanding dues to HDC and must not have a history of project delays or unjustifiable extensions. Additionally, companies with a history of project abandonment or those engaged in ongoing litigation with HDC are ineligible. The corporation also reserves the right to reject any proposal or annul the entire EOI process at any stage without incurring liability to proponents.
The evaluation process will consider various factors including the proposed business model, the experience of the operator, financial stability, corporate social responsibility, and the dive center’s design concept.
Interested parties are encouraged to submit the necessary documentation to HDC’s Business Development team, either via email to commercial@hdc.mv or by post to the corporation’s ground floor office in Hulhumalé.
