HDC opens EOI to develop and operate mid-scale hotels in Urban Isle

The Housing Development Corporation (HDC) on Thursday announced it has opened invitations to submit expression of interest (EoI) for the development and operation of mid-scale hotels in Urban Isle.

In order to give an equal opportunity for all interested parties, HDC has invited proponents to submit EOIs for the development first, the corporation said in its announcement.

HDC noted that all business models will be considered for the project, and interested developers are encouraged to submit creative business models showcasing unique approaches, scalability, and potential for long-term sustainability.

“Regardless of the model proposed, the benefits to both parties should be clearly stated,” HDC said in its announcement.

If HDC receives more than one proposal for the project, it would proceed with the EOI that best suits the corporation’s “vision, strategic objectives, and masterplan,” it added.

EOIs will be evaluated based on the proposed business model, experience of the operator and developer, proposed team, financial stability, capability, CSR and concept design of the project.

HDC also highlighted that it reserves the right to accept or reject any proposal and to annul the entire EOI process and reject all proposals “at any given time prior to framework agreement signing.” It added that in doing so, proponents will not incur any liability, and in the event of an annulment, the proponents will be informed of the decision.

Interested parties are required to submit the completed document as per the EOI Application Form, which was attached alongside HDC’s announcement.

All interested parties are encouraged to submit their EOI via email or to HDC’s address before 14:00 hours on August 29, 2024.