HDC, Transport Ministry sign MoU on allocation of slots in parking buildings

Housing Development Corporation (HDC) has signed an agreement with the Ministry on Transport related to the allocation of parking slots from the fifteen parking buildings that the company is constructing.

The agreement was signed by Minister of Transport Mohamed Ameen and HDC Managing Director Ibrahim Fazul Rasheed.

During the ceremony held today at the Umar Zahir Building in Hulhumale', HDC announced that the parking buildings will be completed within a period of two years.

Minister Ameen said that parking on the roads had been out of hand when this administration had assumed office. He said that with the implementation of well thought out changes, the issue is now seeing steady improvement, adding that the addition of the parking buildings would contribute towards further alleviating the issue.

Ameen went on to say that many vehicles that were registered on the belief that it had dedicated garages end up being parked on the streets instead. The parking buildings would provide parking space for those who have difficulties in finding garages for parking due to constraints of space at residences.

The parking buildings are designed to have 3920 slots for cars and 3426 slots for motorcycles. Out of these, 90 percent will be allocated through a bidding process. The remaining 10 percent will be reserved for visitors to the cafe's and gyms on the ground and top floors of the buildings.

Fazul announced that the cars will be registered on the documents issued with slots. Those who purchase car slots will be permanent owners.

"We have planned to offer parking slots in the same way that one would own an apartment. Payments through the bank system will also be accepted. Direct payments will also be accepted. This opportunity guarantees people to have a permanent parking space for their cars," Fazul explained.

HDC announced last month for interested parties to apply to build the parking buildings. Fazul said that there was strong interest in the project, adding that work on the 7 to 8 parking buildings in Hulhumale' Phase 1 will begin at the end of the year.

"We will start seeing results within a year," Fazul asserted.