Government seeks contractor to build mall at Rasfannu area

Finance Ministry has made an announcement seeking a contractor to build a shopping mall across from the newly developed Rasfannu at the south of Malé City.

The announcement made by the Ministry on Thursday said that they are seeking a party to build and run a mixed development facility on the land across from Rasfannu for 50 years.

The deadline for the proposals by the interested parties is 27 July 2016.

The documents published with the announcement say that the infrastructure of the capital city has been rapidly developing in the past 20 years and the main target has been housing. And it said that with the high demand for housing, there is no place for a retail complex of popular brands in Malé City.

And the documents said that aside from the large population, there is a number of tourists visiting the capital and there are only two main activities for them and they are sight-seeing and souvenir shopping.

And so to shift the high demand among the people and tourists for high-end shopping, the government is looking for a party to build a chain of shopping outlets on the grounds in the Rasfannu area with some other facilities as a mixed development property.

The land allocated is the behind Thaajuddeen and Hiriya School all the way to the Social Center. The land is about 70,000 square feet and the development last would be 65,000 square feet.

The mixed development property must include retail shops, cafés and restaurants, supermarkets, department stores, office spaces, conference halls, auditoriums, recreational area and entertainment area.

Finance Ministry says that the highest a building can be built on that land is 60 meters. And the ground floor to the second floor must be a sports and recreation zone with the other facilities on the remaining floors.

The Ministry also said that the winning party of the bid may use 30 percent of the floor area to develop a city hotel or luxury apartments on the building and gain profit.