The Ministry of Housing and Urban Development, on Sunday, signed an agreement with Rasheed Carpentry and Construction Private Limited (RCC) to develop 100 housing units in Naifaru, Lhaviyani Atoll.
Deputy Minister Mohamed Khalis Shareef signed the contract on behalf of the ministry, while Ibrahim Rasheed, the Managing Director of Rasheed Carpentry and Construction signed on RCC's behalf.
The project was awarded to RCC under a design and build contract and is part of the Public Service Investment Programme (PSIP).
As per the contract, RCC must conclude the project within 330 days.
The project, costing over MVR 72 million, includes the development of four apartment complexes, three of which are three-storey buildings with 24 apartments in each, while the remaining structure will be developed into a four-storey building with 28 apartments.
Each apartment will comprise of three rooms, three bathrooms and one sitting room.
Construction work will take place in a privately owned land plot measuring 1000 square feet. One housing unit consisting of three rooms, 3 bathrooms, one sitting room and one storage area will be developed on the property.