Male’ City Council decided to seek investors to demolish and redevelop the dilapidated Sinamalé Flats.
All 12 members of the council had unanimously approved the 'Sinamalé Redevelopment Project, which involves the demolition of the old and worn-out apartment buildings which will be replaced with newer and more modern structures.
The Sinamalé social housing project was executed during former President Abdul Gayoom’s administration, through the aid of the Chinese government. The project includes a total of 128 apartments in the buildings.
During a meeting held on Wednesday, May 24, the council's Financial Manager, Dr. Mohamed Shahid, said that the project will be carried out in two phases, developing a total of 1,500 apartments between 800 to 1,300 square feet and will feature two, three, or four bedrooms, each equipped with an attached toilet.
- Development of 1,500 apartments
- Redevelopment of five towers with a total of 700 apartments under phase 1
- Towers will consist two, three, and four-bedroom apartments
- Development of 800 apartments under phase 2
- Towers will consist of mid-range housing units
- Towers will be developed through a developer-finance approach
Of the 700 apartments to be development under phase of the project, the families currently residing in the existing buildings will be relocated to 128 apartments. Additionally, the ground floor of each housing tower will be designated for commercial use.
Speaking about the project, Dr. Shahid said that the City Council expects to generate an income of MVR 175 million from the land cost in the project area. He also projected an annual income of MVR 15 million through the rental and leasing of commercial spaces and parking slots. In addition, the project includes the development of parking areas accommodating 500 cars and 2,000 motorbikes.
Dr. Shahid said that the main obstacle the project may encounter is obtaining all the necessary permissions from relevant authorities.
He also said that there is currently no established legal framework in place for such redevelopment plans.
However, Dr. Shahid said that the initiative would provide housing solutions through redevelopment plans for individuals who were previously allocated social housing units.
Following the council meeting on Wednesday, Malé City Mayor Dr. Mohamed Muizzu said that the redevelopment plan includes the construction of eight 15-storey towers. The Mayor also said that interested parties would soon have the opportunity to apply for the project.