Bidding Document- Amendment 1

Project Name: INVITATION FOR BIDS (IFB) FOR THE LEASE, DEVELOPMENT, OPERATION, AND MANAGEMENT OF A TOURIST GUEST HOUSE AND CITY HOTEL IN F. MAGOODHOO

Project Number: 372/PROJ/2023/04

 IFB Number: (IUL)372-A1/372/2023/41

 The following Changes has been made to the bidding document section 2 number 2.2

2.2: The Bidder is also required to propose an amount of no less than below the specified amount which shall be paid to the Council yearly as the Annual Land Rent (hereinafter referred to as the “ALR”) of the land, to be paid, as per Clause 5.3 of the ITB. These figures represent the minimum ALR requirements for each of the specified 5-year intervals. The ALR is expected to increase over time based on these intervals and will be paid to the Council accordingly as per Clause 5.3 of the ITB.