Mon, 12 May 2025
|DHIVEHI
Central Prison and Hope Island projects open for investment
21 Apr 2025
|
Uthuru Thila Falhu (UTF) --- Photo: Edition MV
The Ministry of Homeland Security and Technology has opened investment opportunities for two major infrastructure projects in Uthuru Thila Falhu (UTF): the 'Central Prison' and the 'Hope Island' rehabilitation facility.
In a public call for Expressions of Interest (EOI), the Ministry invited investors to submit proposals on how to finance the development of these projects through profitable models. The initiative aims to consolidate all prison facilities into one central location and establish a dedicated rehabilitation centre to support the reintegration of juvenile offenders into society.
Interested investors may propose to undertake the projects through one of four models:
- Complete development model: Full development of the projects, including land reclamation and construction, in exchange for Dhaalu Vaanee island, its lagoon, and two additional lagoons. Investors may also request reduced tax and rent rates for business operations on Vaanee.
- Construction only: Construction services in exchange for lagoon areas for commercial use.
- Hybrid model: Partial construction and land reclamation in return for lagoon allocations.
- Operational management option: Sustainable operation of parts of the island to minimise government expenditure.
According to the Ministry, the 'Central Prison' is planned to house up to 6,000 inmates while 'Hope Island' will span 15 hectares and accommodate up to 700 individuals. Both facilities are expected to be completed and handed over to the government by October 2027.
The deadline for submitting Expressions of Interest is 2:00 p.m. on April 27, 2025.
Popular News
