FDC to commence work on 5,000 housings this year; to complete 1,000 units in a year

Fahi Dhiriulhun Corporation (HDC)’s Managing Director Hamdhan Shakeel states physical works on the first 5,000 housing units from the 5,000 of the 13,000 housing units planned by the corporation for Male' area will begin within the next three months, with the goal to complete 1,000 housing units in the span of a year.

Speaking at Sun’s ‘Editaruge Suvaal’ program, Hamdhan said all 13,000 housing units are 100 percent ‘contractor financing’ projects. He added that the corporation was undertaking efforts to arrange matters related to the project in a manner the government is not burdened in light of the current state of the nation.

According to Hamdhan, FDC will commence physical works in the 13,000 housing units within the next three months. Work will first proceed on 5,000 housing units for which term sheets have already been received, he added.

“By the will of almighty, our target is to complete approximately 1,000 units within one year of commencing physical works and handover. To then proceed with the remaining units, and complete 5,000 of them in three years,” he said.

Hamdhan noted that space limitations, particularly for parking, are a major issue in many of the current housing projects in Hulhumale’ with cars and motorcycles often parked around the premises. He detailed that this concern has been addressed in the planning of the 13,000 housing units, with the buildings being designed to include parking areas.

FDC has already executed framework agreements with three foreign companies for the development of 13,000 housing units in Male’ area.

The 13,000 housing units have been divided among the three companies. 5,000 units each were awarded to a Turkish company and a Chinese company and the remaining 3,000 units were awarded to a Sri Lankan company.

Efforts are presently underway to secure financing for the project.

President Dr. Mohamed Muizzu has pledged to permanently resolve the housing constraints faced across the nations during his term; one of his most prominent pledges.