Reclamation of the second portion of Hulhumalé Phase 3 land area commenced on Saturday, December 30.
Urbanco's Managing Director Fazul Rasheed confirmed the project's commencement via Facebook.
Fazul assured that the housing units and plots would be issued to eligible recipients according to President Dr. Mohamed Muizzu's pledge.
Under the first part of Phase 3 reclamation, 10 hectares of land were reclaimed by October 2023. The second part of the project consists of reclaiming 53 hectares of land.
Sri Lanka's Capital Marine and Civil Construction Company (CMCC), which is also contracted for the reclamation of Fushidhiggaru Falhu to develop the island of 'RasMalé', is also contracted for Phase 3 reclamation.
Urbanco further revealed that the project's total value would be paid to the contractor by selling 10 hectares of land from Hulhumalé and 9.8 hectares from Thilafushi.
Besides reclamation, the project entails the construction of a revetment, road development, and the construction of walkways and jetties.
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