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President establishes state-owned company to provide affordable housing

14 March 2019, MVT 22:21
Aerial view of the housing solutions built in Hulhumale'. PHOTO: HOUSING DEVELOPMENT CORPORATION LTD
14 March 2019, MVT 22:21

President Ibrahim Mohamed Solih, on Wednesday, established ‘Fahi Dhiriulhun Corporation Limited’, a state-owned company tasked with fulfilling the state's pledge to provide affordable housing.

Fahi Dhiriulhun Corporation Limited was created under presidential decree number 2/2019.

The state-owned company will ensure affordable housing solutions to the public as per section 95 of the Companies Act and will execute government efforts in this regard.

The mandate of Fahi Dhiriulhun Corporation Limited will include the provision of shelter to low-income earners at subsidized rates, and capital for first-time house buying individuals.

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