The Ministry of Infrastructure, Housing and Urban Development has invited proposals from fully Maldivian‑owned firms to design, build and sell 2,100 three‑bedroom apartments on 13 islands outside the Greater Male’ area.
The initiative, part of the government’s “National Affordable Home Ownership Programme,” will be delivered through an engineering‑procurement‑construction (EPC) contract under a build‑and‑sell model financed by the contractors themselves.
Under the scheme, the state will provide the land free of charge, requiring successful developers to complete and hand over the units within two years. Each building must include parking, a free motorcycle space per apartment and optional car‑parking sales, as well as ground‑floor space earmarked for commercial use. Units are to be no smaller than 900 square feet, with a ceiling price of USD 97,276 for the social‑housing component.
At least 60 percent of the apartments in each proposal must be allocated as social housing, while the remaining 40 percent may be sold at market rates. To encourage participation, the government is offering GST exemptions for buyers of both social and market‑rate units, duty‑free import of construction materials and machinery, and the ability for developers to mortgage up to 20 percent of the project’s completion value to secure financing—subject to government approval.
The Ministry stressed that selected bidders must demonstrate financial sustainability, high construction quality and a commitment to community‑oriented development that aligns with national housing policies. Interested companies should submit a written expression of interest to [email protected] by 1:00 pm on 4 August, followed by full technical and financial proposals electronically by 1:00 pm on 17 August.