The Housing Development Corporation (HDC) is inviting developers to submit Expressions of Interest (EOI) for the development and operation of a dive center in Hulhumalé. This initiative aims to provide equal opportunities for all interested parties.

The preferred business model for this project is a lease model; however, proposals are not restricted to this model. All submissions must clearly outline the potential benefits to both the HDC and the proponent.

In the event that HDC receives multiple proposals, the selection will be based on which EOI best aligns with the Corporation's vision, strategic objectives, and masterplan. Factors such as the proposed business model, the experience of the operator and contractor, the proposed team, financial stability, capability, corporate social responsibility (CSR), and the concept design of the dive center will be evaluated.

Eligibility criteria specify that only parties without outstanding dues to HDC are allowed to submit EOIs. Additionally, companies that have previously prolonged or delayed HDC projects unjustifiably, abandoned projects at any stage, or are engaged in ongoing litigation with HDC will be deemed ineligible.

HDC reserves the right to accept or reject any proposal and may annul the EOI process at any time before signing an agreement without incurring any liability to proponents. Should annulation occur, all proponents will be informed, and proposals will be returned.

Interested parties should submit a duly completed document set using the attached 'Expression of Interest (EOI) Application Form.' Submissions must include the concept design of the dive center and should be sent via email or delivered to the address provided below by 14:00 hours on 13th October 2024.