Urbanco signed contracts with developers on Sunday, August 13, for the construction of 10 residential apartment complexes in Hulhumalé 1 and 2, in addition to six mixed residential apartment complexes in Hulhumalé 1.
Fifteen companies entered into agreements with Urbanco for the apartment complex project at the Living Expo 2023, held at Hulhumalé Central Park.
- FW Construction Private Limited
- Kandoofaa Private Limited
- Rainbow Construction Private Limited – two buildings
- Renaatus Project Private Limited
- Singuhaal
- Alaaf Private Limited
- Antrac Holding Private Limited
- Big Hut Logistics Private Limited
- Built Spaces Private Limited
- Epoch Associates Private Limited
- Glorious Residence Private Limited
- Ives Private Limited
- Veligaa Hardware Private Limited
- Blue Span Private Limited
- Buildup International Private Limited
An Urbanco representative speaking to Mihaaru News said that the 16 buildings will comprise a total of 981 housing units, with 60 percent of the apartments intended for the mid-range market.
"We chose to allocate these vacant and smaller plots to local developers in order to foster their development and growth," the official said.
The official further said that more plots from different locations in Hulhumalé will be awarded to local developers in the future. They said that the available plots will soon be deatured on Urbanco's app.
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