Fahi Dhiriulhun Corporation (FDC) has made substantial progress in constructing residential towers as part of the "Gedhoruveriyaa Scheme" in Hulhumalé Phase 2. This ambitious housing initiative, initially launched by former President Ibrahim Mohamed Solih, seeks to tackle the urgent housing challenges facing the Maldives. Recently, FDC announced the completion of the structural work on 16 of the 32 planned towers, demonstrating its ongoing commitment to this important project.
Completed Towers and Construction Partners
The completed towers, named "Amaan Udhares," are being constructed by KPIL, previously known as JMC. The remaining 16 towers, called "Amaan Dhoadhi," are being built by NBCC (India) Limited. Each tower is designed to reach 17 to 18 stories, with eight apartments per floor. Once fully developed, this project will provide a total of 4,000 housing units, comprising 1,200 two-bedroom apartments and 2,800 three-bedroom apartments, significantly improving the housing landscape in Hulhumalé.
To accelerate the construction process, FDC has brought on additional laborers to address the housing demands in this rapidly developing urban area. This project represents a significant investment in the future of housing in the Maldives.
Financial Backing and Completion Timeline
The financing for this large-scale housing project comes from two loans totaling USD 227 million, secured through India's EXIM Bank. Housing Minister Dr. Ali Haider Ahmed has indicated that the apartments are expected to be ready for occupancy by mid-2025. Full project completion is anticipated by July or August of the same year. This timeline aligns with the government's ongoing commitment to provide affordable housing options for Maldivian families in need.
Scrutiny of the Allocation Process
Despite the positive developments in construction, the allocation of the flats has faced scrutiny. The Anti-Corruption Commission (ACC) intervened and halted the allocation process after the first 4,000 recipients were announced. The ACC cited concerns over the fairness of the selection process, leading to an investigation that revealed troubling discrepancies. Alarmingly, 60 percent of the initial recipients were found to be ineligible, with only 20.7 percent of the applications free from issues. The remaining eligible forms exhibited discrepancies that raised further concerns.
In response to these findings, the current administration has decided to review all applications submitted during the first round of the Gedhoruveriyaa scheme, which totaled over 20,000 forms. Minister Dr. Haider has assured the public that a final, revised recipient list will be published next month, following a meticulous review of the applications. This step is crucial to restoring public confidence in the allocation process and ensuring that deserving families receive the housing they need.
Addressing Housing Shortages in Hulhumalé
The Gedhoruveriyaa housing scheme is central to the government's strategy to combat housing shortages in the fast-growing city of Hulhumalé. By providing affordable homes for thousands of Maldivian families, this initiative seeks to improve living conditions and foster community development. As construction progresses and the allocation process is refined, the government remains committed to its goal of creating a more sustainable and inclusive housing environment for all.
While significant progress has been made in the construction of residential towers in Hulhumalé Phase 2, the focus now shifts to ensuring that the allocation of these homes is fair and transparent. With continued dedication from FDC and oversight from the government, the Gedhoruveriyaa Scheme promises to transform the housing landscape in the Maldives for the better.
