The Maldives Hajj Corporation Limited has opened international bidding for the construction of a city hotel in Maafushi under a contract finance model, as part of efforts to promote halal tourism in the Maldives.

The project will be developed by Maafushi Islamic Tourism Private Limited (MIT), a subsidiary of the Hajj Corporation. The bidding process will follow international competitive bidding (ICB) procedures in accordance with national financial regulations, and is open to both local and foreign companies.

Interested parties must register with the Maldives Hajj Corporation by 3:00 p.m on 13 August. Payment details will be provided via email upon registration, and a non-refundable registration fee of MVR 30,000 or USD 2,000 must be paid by 4:00 p.m on the same day. Once payment is confirmed, the Corporation will issue the full set of bidding and related documents.

All bidders are required to submit a bid security of MVR 800,000 or its equivalent in US dollars. The security must be valid for 120 days from the date of the bid opening, which is scheduled for 11 September at 1:00 p.m.

Registered bidders will receive all necessary information by 3:00 p.m on 26 August. Bids must also remain valid for 120 days following the date of bid opening.

The development of the Maafushi city hotel was initially revealed during a parliamentary committee meeting held on 7 November last year. During the meeting, the Managing Director of the Hajj Corporation, Mohammad Shakeel, stated that the project aims to introduce halal tourism and strengthen the Corporation’s foreign currency inflows.

Shakeel noted that while Hajj-related expenses are predominantly incurred in foreign currency, obtaining sufficient foreign exchange remains a major challenge. He added that Maafushi has allocated ample land for the hotel project and that potential investors have already shown interest. The hotel is expected to become a significant source of foreign revenue.