HDC to open Hulhumale

The Housing Development Corporation (HDC) has decided to give the opportunity to Maldivian companies, to build and rent flats in Hulhumale’.

At a press conference held by HDC today, Chairman of HDC Ali Shareef said that the plan is to lease about 10 blocks consisting of 60 to 70 apartments each for development, and that this would be done fairly soon.

“Our plan is to hand over 10 blocks consisting of about 60 or 70 apartments each for development. This development project will be opened to Maldivian companies,” he said.

He said that the number of blocks to be developed will be finalised after discussion with the banks and will depend on the amount of finance that can be obtained for the project. He said that details regarding allowing Maldivian companies to construct and trade the properties will be announced soon.

Managing Director of HDC Shuhail Ahmed said that the project will be carried out on proposal basis and not through a bidding process. Referring to ongoing projects by HDC, he said that four parties had settled the full amount to purchase 16 row houses, and that 180 parties had applied for 12 row houses. He said that discussions are ongoing with a Turkish company regarding the delay in the construction of 1,000 additional flats in Hulhumale’.