The government on Wednesday invited interested contractors to design and build housing units in 57 islands under its landmark Public Housing Project.
The Ministry of Finance and Planning, on behalf of the Ministry of Construction, Housing and Infrastructure (MCHI) invited interested contractors to develop housing units on 57 islands under the government’s Public Housing Project.
According to the Ministry, the project will include design and build of more than 12,000 housing units in 57 islands, through Open National Competitive Bidding and International Competitive Bidding process.
Interested bidders may opt for various financial model options for the project divided into four separate categories.
Category 1 has been designated for islands with 50 or below housing units and has been made available for only local contractors. For islands with housing units between 51-150, under Category 2, both local contractors and joint ventures between local and international contractors are eligible to apply. But for housing units between 200 and 300 or above, divided into Category 3 and 4, international contractors can apply separately without establishing a joint venture with a local contractor.
Breakdown of the Project
- Less than 50 housing units in 18 islands.
- Between 51 and 150 housing units in 17 islands.
- Between 200-250 housing units in 10 islands.
- More than 300 housing units in 12 islands.
Incumbent President Dr Mohamed Muizzu has pledged to develop 20,000 housing units each in the north and south of the country, as his Administration to address the longstanding housing shortage in the island nation.
The government has earmarked USD162.1 million in this year’s state budget for housing related projects, out of which USD64.9 million has been dedicated for housing infrastructure.