The Ministry of Housing has opened a bidding process to select a consultancy firm to develop the master plan for Rasmale’.

According to an announcement by the Ministry, a clarification session for interested and eligible bidders is scheduled for 16 November at 12:00 noon. The deadline for submitting bids is 2 December at 9:00 a.m. at the Ministry of Housing.

Under the Rasmale’ project, once the reclamation of 1,000 hectares of land is completed, the island is expected to become the largest island in the Maldives by land area. The government aims to create capacity for 200,000 housing units on the reclaimed land over the next 20 years.

Of the total reclaimed area, 500 hectares have been designated for development as an integrated real estate zone.

To facilitate this development, a commercial term sheet has been signed with UAE-based Abu Dhabi company Eagle Hills. Meanwhile, negotiations on the agreement are ongoing.

In addition, a bill concerning real estate businesses has been submitted to Parliament to establish the legal framework required for the project.