The Maldivian government has unveiled an ambitious Public Housing Project to construct over 12,000 housing units across 57 islands. Spearheaded by the Ministry of Construction, Housing, and Infrastructure, the initiative aims to address housing shortages and improve living conditions nationwide.
The project will follow a phased approach, with tenders to be announced in February 2025 through both Open National and International Competitive Bidding processes. The housing units will be categorised based on their size, ranging from 50 units to 2,000 units per island, with financing options tailored to attract both local and international contractors.
A Nationwide Effort
The project features housing developments in various categories:
- Category 1: Islands with up to 50 housing units, such as Adh. Dhigurah and Ha. Kelaa.
- Category 2: Islands with 51–150 units, including Ha. Ihavandhoo and N. Kendhikulhudhoo.
- Category 3: Islands with 200–250 units, such as Ha. Dhidhdhoo and R. Dhuvaafaru.
- Category 4: Islands with 300 or more units, including major projects like 2,000 units in Hdh. Kulhudhuffushi City and 500 units each in Gn. Fuvahmulah and S. Hithadhoo.
Flexible Financing Options
The Public Housing Project introduces flexible financing models to cater to diverse contractor capabilities. These include:
- 100% Employer Financing
- Contractor-Arranged Loans with a 15% equity contribution from the government
- Full Contractor Financing
Eligibility criteria vary by project size, with opportunities for both national contractors and international joint ventures for larger-scale developments.
How to Participate in the Bidding Process
With procurement notices set to be issued in February, the government has encouraged both national and international contractors to express their interest in advance. The Ministry of Finance and Planning’s National Tender Department will handle pre-qualification requests, ensuring a streamlined bidding process for eligible participants. Contractors interested in bidding for housing projects are advised to monitor official announcements and submit their applications through the designated procurement channels.
