FDC: Structure of 10 towers completed, handover of 11 towers by July

Fahi Dhiriulhun Corporation (FDC) has completed the structure of 10 towers in Hulhumalé second phase.

Managing Director of FDC, Hamdhan Shakeel, said that the sub-structural components have been completed, and the superstructure works are now underway in all towers. He further said that 11 towers will be completed with plans to hand over the flats to the government by July.

"The structures for the 10 towers are now complete. We are progressing at a rate of 30 sheets per month, ahead of schedule," Hamdhan said.

The completed 10 towers comprise of approximately 1,200 apartments. While finishing works are currently underway, four towers, totaling 512 flats, are expected to be completed by the end of this month, according to FDC.

Hamdhan said that the company aims to complete 11 towers by July. FDC is working to expedite the project and has brought in 250 more laborers last month to ensure its timely completion, he said.

FDC is constructing 4,000 flats in Hulhumalé 2, comprising of 32 towers of 17-18 stories each. Each floor accommodates eight apartments, including 1,200 two-bedroom flats and 2,800 three-bedroom flats. FDC had earlier stated that it was working to complete all the towers by the end of this year. Two contractors have been awarded the contract to develop the flats. The 16 towers of "Amaan Udhares" were handed over to JMC, while NBCC was awarded the remaining 16 towers of "Amaan Dhoadhi."

Exim Bank of India has secured two loans totaling USD 227 million (MVR 3.5 billion) for the development of the flats. The government has provided a sovereign guarantee for both loans.