Ministry of Housing and Urban Development has launched projects to develop housing units in two islands.
At a ceremony held at the housing ministry, W&A Overseas Private Limited was contracted to develop 100 housing units in Naifaru in Lhaviyani Atoll. As part of the project, W&A Overseas would construct 3-storey and 4-storey apartment buildings in Naifaru under the design and build policy of the administration. The project is financed under Public Sector Investment Programme (PSIP) and would cost USD 4.638 million. The project to be conducted in the newly reclaimed area in Naifaru must be completed within a period of 10 months.
Furthermore, a joint venture of Precision Engineering Services and Flexinc Private Limited was contracted to develop 100 housing units in Thulhaadhoo in Baa Atoll. As part of the project, the housing units would be developed in an area of 1-thousand-100 square feet in the newly reclaimed area. The project is financed under Public Sector Investment Programme (PSIP) and would cost USD 5.170 million. The project to be conducted in the newly reclaimed area in Naifaru must be completed within a period of 12 months.