MTCC seeks partner for 25-storey Hulhumalé housing project

MTCC seeks financing partner for 25-storey Hulhumalé housing development

The proposed development will combine affordable housing and commercial space, with the selected partner responsible for financing, design and construction.

Mohamed Hilmy

15 November 2026, 18:37

Maldives Transport and Contracting Company (MTCC) has invited expressions of interest from companies to finance, design and construct a 25-storey residential and commercial complex in Hulhumalé Phase 2.

According to an announcement published in the Government Gazette on 15 November, the development will be undertaken through a design-build-finance arrangement on a plot measuring approximately 12,015 square feet.

The ground and first floors will be allocated for commercial use, while the upper floors will accommodate affordable residential housing.

The selected development partner will be responsible for site planning, architectural and engineering design, financial modelling, capital structuring and construction of the complex.

Applicants must demonstrate the ability to secure debt and equity financing for real estate projects valued at more than USD 10 million. They must also have experience as a lead developer or prime contractor on at least three comparable mixed-use or commercial projects completed within the past ten years.

Interested companies are required to submit audited financial statements for the previous three financial years, details of comparable projects and evidence of regulatory compliance.

The announcement does not specify the estimated cost of the development, the number of residential units or the expected construction timeline.

Expressions of interest must be submitted before 12:00 pm on 22 November 2026.

MTCC seeks financing partner for 25-storey Hulhumalé housing development

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