STO Seeks Contractor for New 25-Storey Building in Male'

The State Trading Organization (STO) has announced its search for a contractor to construct a new 25-storey commercial building in Male’. This initiative aims to alleviate the current office space constraints faced by the STO Head Office.

The planned building will be located on a vacant plot adjacent to the existing STO Head Office. Covering an area of 1,393 square meters, the project is expected to cost USD 18 million (MVR 278 million). The new facility will offer both office space and commercial areas to support various business activities.

STO is calling for Expressions of Interest (EOI) from contractors interested in undertaking this project, which will be financed through contractor financing. Shortlisted contractors will later be invited to submit detailed proposals.

This development is set to address the space limitations experienced by STO and provide a modern solution for their operational needs.