BML seeks builders for Hulhumale' head office project

The Bank of Maldives (BML) has opened an expression of interest process for the design, construction and financing of a new headquarters building in Hulhumale'. The bank is seeking local and international contractors, developers and design-and-build firms capable of delivering the project.

According to documents published with the gazette notice, the new headquarters will be developed on a 2,648.40-square-metre plot in Hulhumale' Phase I. The project envisions a 14-storey office tower with two basement levels and a maximum height of 60 metres.

The building's ground floor will house retail outlets serving staff, customers and visitors, while plans also include parking facilities for at least 65 cars and up to 400 motorcycles. The concept design further features office floors, a landscaped terrace on the 12th floor, executive floors on the 13th and 14th floors, and a rooftop solar farm as part of the building's renewable energy component.

BML said its current intention is for the project to be financed in US dollars through sources external to the bank. Financing may be provided by the successful applicant, its parent company, a consortium financier, a bank, an export credit agency, or another third-party financier. Both conventional and Shariah-compliant financing structures may be proposed.

Interested parties are required to submit details of their company, relevant project experience, technical capabilities, financial standing and financing arrangements. BML said it will assess applicants based on their experience in projects of comparable scale and complexity, financial strength, and ability to secure external USD financing.

The bank has requested interested parties to submit their expressions of interest by 4:00 pm on November 30. Shortlisted applicants will later be invited to participate in a request for proposals process.