HDC Announces Invitation for Proposals for Lease of Units from Hiyaa Commercials in Hulhumale’ Phase 2

Housing Development Corporation (HDC) has announced stage 2 of Request for Proposal (RFP)s for the lease of units from Hiyaa Commercial area in Hiyaa Flats, Hulhumale’ Phase 2. These units are opened for the provision of Grocery Stores, Café, Clinic, Pharmacy, Barbershop, Saloon, Bookshop, Daycare Center, Retail Store and unit for SME’s for the provision of Retail Stores.

Hiyaa project consists of 6720 housing units which will be catering around a population of 40,000 people. Ground floor of all 16 towers are dedicated for commercial and institutional uses to cater for the need of residents and general public. Establishment of businesses is to cater the city’s ever-growing population, while also adding value and boost commercial activities in Hulhumale’ phase 2.

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The announcement of RFPs was published on 3rd June 2021, 7th June 2021 and 13th June 2021.

Announced Unit Details are as follows;

No. of unitsUsageUnit NumberUnit Area
2Grocery StoresH7-G-011,093.40 sqft.
H4-G-041,093.29 sqft.
2Café’H2-G-12926.34 sqft.
H3-G-09926.56 sqft.
1ClinicH5-G-022,149.12 sqft.
1PharmacyH5-G-03539.92 sqft.
1BookshopH13-G-021,096.52 sqft.
1SaloonH8-G-071,086.83 sqft.
1BarbershopH15-G-01539.16 sqft.
1Daycare CenterH3-G-012,190.88 sqft
2Retail StoreH1-G-021,096.52 sqft
H1-G-071,096.52 sqft
2SME’s Retail StoreH9-G-08539.92 sqft
H11-G-10539.92 sqft

Proposals for Grocery Stores, Café’s, Clinic, Bookshop, Daycare Center, Retail Store and Saloon will be evaluated on the lease rates and business plans proposed. However, proposals for Pharmacy and Barbershop will be evaluated on Lease rates only.

HDC is providing opportunities for SMEs to further expand their businesses under Hiya project. Under this initiative, HDC have allocated two retail units specifically for SMEs. The evaluation criteria for the specified RFP is Business Plan and interested parties does not need to propose lease rate. HDC has discounted and fixed the lease rate for Year 1 and Year 2 to MVR 10.00 (Maldivian Rufiyaa Ten). After the first two years lease rate for Year 3, 4, and 5 will be fixed at MVR 20.00 (Maldivian Rufiyaa Twenty). SME’s who are registered in the Ministry of Economic Development will be qualified for the RFP.

In the case of other RFPs, HDC has decided on giving leniency on lease rate as the lease rate for the first 2 Years will be 50% discounted and will be fixed at MVR 15.00 (Fifteen). However, the minimum acceptable lease rate for the Year 3, Year 4 and Year 5 is MVR 30.00 (Thirty) for all the units except for clinic and Daycare.

For the Clinic unit, lease rate for the first 2 Years will be fixed at MVR 15.00 (Fifteen) and the minimum acceptable lease rate for the Year 3, Year 4 and Year 5 is MVR 15.00 (Fifteen).

These leniencies have been given after considering the economic state of the country due to COVID-19 situation and due to the reason that Hiya flats are located in a newly developing area.

Proposal submission deadlines are as follows;

RFP unitsDateTiming
Grocery stores3rd August 20211300hrs to 1400hrs (for all)
Café4th August 2021
Pharmacy5th August 2021
Clinic8th August 2021
Bookshop10th August 2021
Saloon11th August 2021
Barbershop12th August 2021
DayCare Center16th August 2021
Retail Store17th August 2021
SME’s Retail Store18th August 2021

A Complete set of Request for Proposal (RFP) document is made available on HDC Corporate website (https;//hdc.com.mv/) and MyHulhumale’ Properties website ( https://properties.hdc.com.mv/ )

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