Bank of Maldives (BML) has announced plans to develop a 12-story office building and a three-story mixed-use commercial building in Malé, inviting interested parties to submit Expressions of Interest (EOI) for the project.
Under this project, the 12-story office building will be constructed on a 23,000-square-foot plot, with the bank stating the total floor area will reach 135,624 square feet. Additionally, the project includes the development of a three-story commercial building on a separate 6,000-square-foot plot.
While BML’s announcement did not specify the location of these buildings, the only plot of such size currently available in Malé is the site previously designated for the "Coral Boulevard" project during former President Abdulla Yameen’s administration.
The bank is seeking partners for the design, financing, and construction of the project. Applicants must be experienced firms that have completed high-rise building projects totalling no less than MVR 250 million within the past seven years.
A key condition of the project is that contractors must secure their own financing to carry out the work. The bank will only commence payments once the construction is fully completed. BML noted that preference will be given to bidders who offer the longest repayment periods.
The bank has stipulated that the buildings must be designed according to international standards, featuring modern architectural aesthetics and environmentally friendly, energy-efficient systems. The deadline for interested parties to submit their EOI is 12:00 pm on Tuesday, October 6.
