JMC Projects (India) Ltd. has signed a contract for the design, finance and construction of 2,000 social housing units in suburban Hulhumale’ with Fahi Dhiriulhun Corporation (FDC).
Under the project, JMC will be constructing 1,400 units of three bedrooms and three toilets, and 600 units of two bedrooms and two toilets.
FDC states the cost of the project is not expected to exceed USD 137 million.
“The financial closure of the project is likely to conclude soon and construction on the project will commence immediately thereafter,” said FDC in a statement.
Founded in 1982, JMC is among leading civil construction and infrastructure EPC companies in India.
The contract with JMC comes after FDC signed a similar contract with NBCC (India) Limited for the construction of 2,000 additional housing units in Hulhumale’ back in February.
FDC was established by President Ibrahim Mohamed Solih in 2019 with the purpose of streamlining public housing projects across Maldives.