President Ibrahim Mohamed Solih announced on Monday that a state-run company by the name of “Fahi Dhiriulhun Corporation Limited” will be established in order to provide affordable housing as per the president's electoral pledges.
President’s Office revealed that the company will manage all the projects falling under the housing scheme. According to President’s Office, Fahi Dhiriulhun Corporation is being established based on the counsel of the Economic Council. It will operate according to the “Housing Needs Assessment”, while a fair and trustable system will also be set in place to provide housing to locals.
“It’s an aim of the government to provide facilities to establish a suitable living environment along with affordable housing”, the President’s Office stated.
In the Presidential Address delivered last Thursday, President Solih vowed to bring down the prices of housing, and announced that the construction of an additional 4,000 housing units in reclaimed suburb Hulhumale’ will commence within this year.
Additionally, the President disclosed that the 550 housing units planned for the year will be open for bidding shortly. He further stated that construction has resumed on 1,500 housing units as well.
President Solih stated that his aim is to provide housing at a more affordable rate compared to the past.