State Trading Organization (STO) has announced seeking interested parties to develop and construct two 15 story towers at reclaimed land of Hulhumale' under its second phase.
The largest state owned corporation made its announcement publicly on Tuesday seeking interested parties to develop the buildings and requested to send letter of interest before January 2, 2018.
The announcement conditioned for the possible winning party or parties to develop two towers at a space of 24,000 square feet within a two year duration from the date of assignment.
STO is attempting to develop two high-rises under the government initiated mega housing project "Hiyaa" which will see a total of 22 different corporations including two foreign firms constructing 62 housing towers in the satellite town.
Similar to STO, several other big league corporations have announced bidding opportunities to develop towers at Hulhumale', these had included Island Aviation and MTCC among others. While Island Aviation is seeking potential construction parties to develop three high-rises reaching 15 storys, MTCC had not specified their expected building elevations but confirmed they would be developing two properties.
Other prominent companies include STELCO proposing and proceeding with the construction of two 15 story buildings while Customs has announced the construction of 4 towers.
China's State Construction Engineering Corporation has been tasked with constructing 16 high-rises with 25 stories.
