Fahi Dhiriulhun Corporation (FDC) Managing Director Hamdhan Shakeel has announced that the company is in the preparatory stages to construct 13,000 housing units in the Male' area.
Fahi Dhiriulhun Corporation (FDC) Managing Director Hamdhan Shakeel has announced that the company is in the preparatory stages to construct 13,000 housing units in the Male' area.
For the project, FDC has now signed framework agreements with three foreign companies.
Of these, a contract was entered into with a Sri Lankan company to construct 3000 housing units.
President Dr Mohamed Muizzu announced last month that 27,000 housing units will be built in Male' and across the atolls. This includes 15,000 in the Male' area, and 12,940 in the atolls.
In an interview with State media, Hamdhan said that they are now working on securing the necessary financing for the building of social housing units in the Male' region.
He said that the project would be conducted through loans from various foreign finance agencies.
Permit for the project would be applied for within the next two months, he said, with the project to be be officially launched in four months' time.
No further details of the project were disclosed as of yet.
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