Housing Development Corporation (HDC) is seeking contractors for the development and sale of seven mixed residential buildings in Hulhumale’ Phase I.
In an announcement made on Tuesday – the corporation underscored that the targeted audience in the sale of these apartments is middle-classed and high-classed income earners.
The size of land plots being issued for the development of the residential buildings varies between 26,497.38 square feet and 34,319.40 square feet.
HDC estimates the approximate cost of development of the buildings to fall between MVR 157 million and MVR 216 million.
Should the cost of development exceed the estimated amount at completion of the building – the corporation has instructed that they be informed within seven days’ time.
As per HDC’s announcement – the buildings are to be comprised of two-room and three-room apartments. Two-room apartments must be 700 square feet in size whilst three-room apartments must be 900 square feet in size.
Apart from this, each building must include a dedicated parking basement for tenants. The units on the ground floor and first floor are to be leased for commercial purposes.
The last date for bid submission for these projects is May 31.
HDC has stated that the winners of the bid will be announced on June 7.
Applicants may only submit bids for the development of maximum three buildings. The building must be completed and handed over by the contractor within two years.
The corporation will be holding an information session via zoon at 1:00pm on May 24, to share further information regarding the projects.