The Fahi Dhiriulhun Corporation (FDC) has announced plans to develop 13,000 housing units in the Male' area under a key housing initiative.
FDC's Managing Director Hamdhaan Shakeel stated that an agreement was signed earlier this year with a Sri Lankan company to develop 3,000 of these units. Framework agreements have also been signed with two other companies to develop the remaining 10,000 units.
According to Hamdhaan. the housing project will be financed through loans from foreign lenders. Efforts are currently underway to secure the necessary funding, he said. He expressed confidence in beginning the project's implementation within the next four months, with government permits to proceed with the project being sought within the next two months.
FDC is already implementing a similar smaller-scale housing project in Hulhumale' Phase II. The 4,000 units in development under this project have almost reached completion.
In addition to the Male’ area project, FDC plans to implement similar housing initiatives on islands that require social housing.
