A bid announcement has been made, for a third time, to build a 15 floor residential tower for Fenaka Corporation as part of the government's housing project, Hiyaa.
The announcement made by Fenaka yesterday said that parties interested in building a 15 floor residential tower on the 12,000 square foot land allocated for Fenaka Corporation under the Phase 2 of the Hulhumale' Development Project, may submit their bids before next Monday.
The company said that the bid winner would have to complete the first five floors of the tower within six months after starting the project. And the tower has to be completed within 24 months.
Fenaka Corporation said that the first bid announcement was nullified because the company board decided the prices were too high. However there has been no official word as to why the second announcement was nullified.
The company employees about 2,000 employees.
Under the Hiyaa Project, residential towers are being built for a number of state companies.