Fahi Dhiriulhun Corporation has signed a procurement and construction (EPC) contract with NBCC (India) Limited for the construction of 2,000 housing units in suburban Hulhumale’.
NBCC is an Indian state-owned company which specializes in project management, real estate development and EPC contracting.
The 2,000-unit housing project is to be conducted in Hulhumale’ Phase II.
Fahi Dhiriulhun Corporation states the project involves the construction of 1,400 three-room units of 900 square feet and 600 two-room units of 650 square feet.
The project is valued at USD 130 million, as is to be financed with a sovereign guarantee loan from Export-Import Bank of India (EXIM India).
Fahi Dhiriulhun Corporation Limited was established by President Ibrahim Mohamed Solih in 2019 with the purpose of streamlining public housing projects across Maldives.