Shaheer: City Hotel being built in Hulhumalé by STO would be completed this year

State Trading Organization (STO) has said that the City Hotel they are building in Hulhumalé would be completed within the year.

Speaking at a press conference held at the Head Office of STO today, Managing Director Ahmed Shaheer said that some companies showed interest when the investments were announced to develop the hotel. And he said that the investors would get the opportunity to present their proposals very soon.

“…when the proposals are received and researched, we’d know how this project would proceed.” Shaheer said.

Shaheer said that although the proposal phase is pending, other works of the project is ongoing.

Responding to a question from the journalists as to any interests from foreign investors, Shaheer said that the information can be released after the proposals have be presented and researched.

“…But still we want to say with guarantee that good development companies have proposed good propsals.” Shaheer said.