Fazul: Island Project will bring revolutionary changes to Hulhumale’

Housing Development Corporation (HDC)’s Managing Director Fazul Rasheed speaks at the inauguration ceremony of Hulhumale' Island Project on May 16, 2024.

Housing Development Corporation (HDC)’s Managing Director Fazul Rasheed states the Island Project implemented at Hulhumale’ with funding from the Saudi Fund for Development (SFD) will bring revolutionary changed to the suburb.

Speaking at the inauguration ceremony of Hulhumale’ Island Project on Thursday evening, Fazul said work undertaken under the project will pave the way to take Male’ area’s residents and businesses to “another level”, expressing hope for the project to create additional opportunities for businesses.

According to Fazul, a bridge linking Urban Isle and Hulhumale’ and channels will be developed under the project, funded by SFD. He added that the Hulhumale’ Island Project will serve as a path to expand and strengthen horizons which HDC and the government will utilize to revolutionize the area.

Fazul, in his speech, also thanked the Finance Minister, contractors involved in the project and individuals involved in the physical works of the project.

At Thursday’s ceremony, a plaque was presented to SFD’s CEO Sultan bin Abdul Rahman Al-Marshad for the continuous support rendered to the Maldives by the fund.

SFD has provided various assistance to the Maldives over the years. Last year, SFD decided to provide Maldives MVR 2.3 billion in financial assistance. 

Additionally, the SDF has provided MVR 3 billion for the project to develop Maldives’ main gateway to the world, Velana International Airport.