IASL Invites Contractors to Express Interest for Staff Housing Project

Island Aviation Services Ltd (IASL) has invited qualified contractors to submit Expressions of Interest (EOIs) for the design and construction of a staff housing project under a contractor-financing model.

According to the invitation issued by IASL, the project will be delivered on a design-and-build basis, with the successful contractor required to finance at least 20 percent of the total project cost.

The project includes a five-month design phase, followed by a construction period of up to 24 months, which will begin after the design has been completed and approved.

IASL said only contractors registered with the Ministry of Construction and Infrastructure as General Building Contractors (GC01) or General Civil Contractors (GC02) with a Rank 1 or Rank 2 classification will be eligible to bid.

In addition, interested bidders must have completed a housing project worth at least MVR 300 million within the past 10 years.

The total project cost will be determined by the contractor during the proposal stage, while the contractor will also be responsible for arranging financing for a minimum of one-fifth of the project's value.

IASL said proposals will be evaluated based on both technical and financial criteria, with technical capability accounting for 20 percent of the evaluation and the financial proposal carrying an 80 percent weighting.

Companies interested in participating must first submit an Expression of Interest by 11:59 p.m. Maldives time on 27 July 2026. Only contractors that register their interest before the deadline will be eligible to receive and respond to the Request for Proposal (RFP).

The project forms part of IASL's efforts to develop housing for its employees through a financing model that combines private sector investment with design and construction services.