Invitation for Bids (the “IFB”) for the Lease, Development, Operation and Management of a Tourist Resort

1. The Government of Maldives (hereinafter referred to as the “Government”) represented by the Ministry of Tourism (hereinafter referred to as the “Ministry”), hereby announces public tendering for the lease, development, operation and management of a Tourist Resort on the partly reclaimed land having the geographical co-ordinates of 4°24’11.41″N 73°41’16.85″E in Kaafu Atoll, Republic of Maldives (hereinafter referred to as the “Partly Reclaimed Land”)

2. The Ministry now invites sealed bids from eligible bidders, local and foreign (hereinafter referred to as the “Bidder”) for the acquisition of the leasehold rights of the Partly Reclaimed Land.

3.The Partly Reclaimed Land shall be leased for a period of 50 (Fifty) years pursuant to Section 8 of the Law Number 2/99 (Maldives Tourism Act).

4. The Partly Reclaimed Land shall be granted a construction period of 36 (Thirty Six) months from the date of signing the lease agreement.

5. The Bidder is required to propose an amount of no less than a minimum of USD 5,000,000 (Five Million United States Dollars Only) which shall be paid to the Government as the lease acquisition cost (hereinafter referred to as the “LAC”) of the Partly Reclaimed Land, to be paid, on or before 7 (Seven) days from the Letter of Interest for the acquisition of the leasehold rights of the Partly Reclaimed Land (hereinafter referred to as the “LOI”).

6. The Bidder is required to submit a bank guarantee as a bid security (hereinafter referred to as the “Bid Security”) amounting to USD 129,701.7 (One Hundred Twenty Nine Thousand Seven Hundred and One United States Dollars and Seven Cents Only), issued by a reputable financial institution acceptable to the Ministry, in accordance with valid for 60 (Sixty) calendar days beyond the Bid Opening Date.

7. The Ministry shall evaluate and compare Substantially Responsive Bids and the Highest Bidder shall be selected based on the proposed total amount to be paid as LAC for the Partly Reclaimed Land.

8. The Highest Bidder shall within a period of 45 (Forty Five) calendar days from the LOI, submit a report that provides an assessment of the environmental conditions of the Partly Reclaimed Land, and its surrounding waters, which in particular identifies any deteriorating conditions of the same and further provides appropriate recommendations for addressing such issues. In addition, a land survey report of the Partly Reclaimed Land produced by a Ministry’s approved surveyor shall be submitted to the Ministry within the period of 45 (Forty Five) calendar days stated herein.

9. The Highest Bidder shall pay the LAC pursuant to the terms of the LOI and failure of which will result in the following;

a) Cancellation of the LOI; and

b)Forfeiture of the Bid Security; and

c) Awarding a new LOI to the next Highest Bidder under the terms of clause 7.

10. Interested parties may obtain further information, inspect and purchase the Bidding Documents from 06th Day of November 2017 up to the 15th Day of November 2017, between 09:00hrs to 14:00hrs, at the following address:

Ministry of Tourism

5th Floor, Velaanaage

Ameer Ahmed Magu

Male’, Republic of Maldives

Telephone: + (960) 332 3224, Facsimile: + (960) 332 2512



11. An application form must be completed and submitted to the Ministry for the purposes of this IFB (hereinafter referred to as the “Application Form”). This Application form is available from the Ministry’s reception or from the Ministry’s website.

12. A set of the bidding documents for the purposes of this IFB (hereinafter referred to as the “Bidding Documents”), can be purchased from the Ministry. The price of the Bidding Documents for individuals, companies or partnerships registered shall be USD 12,970.17 (Twelve Thousand Nine Hundred and Seventy United States Dollars and Seventeen Cents Only). This payment is non – refundable.

13. The Application Form shall be accompanied by:

a) If the Bidder is a company or partnership, a power of attorney granted to the person who will be signing the application form and tender documents. This however, will not be applicable to individual bidders signing their application forms and their own bids.

b) If the Bidder is an individual a copy of their national identity card or passport. If the applicant is a company or partnership for individuals copy of the registration certificate.

c) Payment for the Bidding Documents as specified in Clause ‎12, which shall be paid to the Maldives Inland Revenue Authority (hereinafter referred to as the “MIRA”).

14. Upon payment for Bidding Documents, MIRA shall issue a payment receipt to the Bidder. The Bidder shall then submit this receipt to the Ministry, and the Ministry shall issue to the Bidder a unique bid serial number (hereinafter referred to as the “Bid Serial Number”).

15. The Bidding Documents and the Bid Serial Number are non-transferable. Each Bidder shall submit only one Bid for each island or plot of land.

16. Each bidder shall submit only one bid.

17. There is no minimum number of the Bids to be submitted for the purposes stated herein. For the avoidance of doubt, a Bid will not be disqualified or deemed invalid for the reason that it is the only Bid submitted for the purposes herein.

18. A pre-bid meeting to provide information for interested parties shall be held at 1400 hrs on Thursday, 09th November 2017 in the Ministry.

19. Bids must be delivered before 13:30 hrs on Thursday, 16th November 2017 to the address in IFB Clause 4 or any other venue that the Ministry may announce.

20. Bids will be opened in the presence of bidders or their representatives who choose to attend the event at 13:30 hrs on Thursday, 16th November 2017 at the office of the Ministry or at any other venue that the Ministry may announce.

21. The venue for the events pursuant to IFB Clause 11, 12 and 13 will be announced through the print and electronic media and posted on the website of the Ministry. No further notification of the time, date and/or the venue for the events will be issued by the Ministry.

22. For the avoidance of doubt, please note that all payments made pursuant to the IFB, Bid and ITB shall be made in United States Dollars.

Ministry of Tourism