Fahi Dhiriulhun Corporation Limited has contracted the development of an additional 2,000 housing units in Hulhumale’ Phase II to an Indian company.
The contract to develop 2,000 housing units was awarded to JMC Projects (India) Limited. The project, which is worth USD 137 million, is funded under the loan assistance of the Exim Bank of India. The project is expected to be completed in 3 years.
The 2,000 housing units to be developed under the project is part of the 5,000 housing units pledged by President Ibrahim Mohamed Solih to be developed this year. Development of another 2,000 housing units had previously been awarded to MBCC of India.
Speaking at an event held earlier this week, President Solih noted the administration had initially pledged to construct 10,000 housing units during the current term. However, he said the administration now plans to construct 15,000 housing units, in line with the needs of the people in the Male’ region.