Housing Development Corporation Limited (HDC) has contracted 15 companies for the construction of 16 residential apartment buildings in Hulhumale'.
The project includes the construction of 10 residential buildings in Hulhumale’ Phase I and II, along with six mixed residential structures in Hulhumale’ Phase I.
Speaking at the signing ceremony, Managing Director of HDC Ahmed Athif said that a significant number of the companies involved in the project were inexperienced in executing such projects. He highlighted the deliberate focus on providing chances to these new companies while actively searching for contractors for the project. He also characterised the initiative as a moment of growth potential for the participating companies.
HDC stated that the 16 residential buildings will have more than 1,800 housing units. A total of 60% of these units are intended for the mid-range market.