FDC’s head says additional MVR 454.5m needed to complete flats

Hamdhan Shakeel, the managing director of Fahi Dhiriulhun Corporation (FDC), said on Wednesday that the state corporation needs an additional injection of MVR 454.5 million to complete work on the 4,000 social housing units being developed in Hulhumale’ Phase II.

In a post on X on Wednesday morning, Hamdhan said the scope of the project decided by former president Ibrahim Mohamed Solih’s administration does not include key services and facilities.

According to Hamdhan, this includes the connection of the towers to the power grid, security systems, GPON network to enable internet and other media connection for the towers and tenants, waste disposal systems, and landscaping works.

“An additional injection of MVR 454.5 million is required for the completion of this additional works left out by the previous government,” he said.

Hamdhan said the FDC is working with the incumbent administration to secure financing for the additional works.

He also highlighted on the difference in the speed of the project under the two administrations.

According to Hamdhan, a total of 216 slabs were casted over a period 22 months under the previous administration, while a total 192 slabs were casted during the past four months.

“Through optimization of the construction schedule and facilitation of resources and other services, we have increased the average rate of construction from 10 slabs per month to 48 slabs on average per month,” he said.

The 4,000 housing units are the first flats built under the ‘Gedhoruveriya’ housing scheme launched by Solih’s administration.

The units come in two types; two-bedroom apartments and three-bedroom apartments.