Housing Development Corporation (HDC) on Sunday invited Expressions of Interest (EOI) from interested parties to build and operate boutique hotels in the Urban Isle, an integrated tourism zone in the second phase of Hulhumalé.

In an announcement, the corporation noted that the preferred business model for the project is lease model for the project, adding that in case HDC receives more than one proposal for the development of a plot, HDC would proceed with the EOI that best suits the corporation’s vision, strategic objectives and masterplan.

They further detailed that in evaluating the EOIs, proposed business model, experience of operator and developer/contractor, proposed team, financial stability and capability will be considered.

The corporation noted that the EOI shall be submitted on or before 14:00hrs of 1st September 2024.