The Government of India has officially handed over 700 housing units built in Hulhumale' through Indian loan assistance today. The handover took place during a meeting between President Dr. Mohamed Muizzu and Indian Prime Minister Narendra Modi as part of the ongoing official State visit to India.
The housing project, which aims to construct 4,000 units, was initiated under the previous administration with a USD 227 million (MVR 3.5 billion) loan from India's Exim Bank. The project involves the construction of 16 towers by KPIL (formerly JMC Company) and 16 towers by NBCC in Hulhumale'.
According to Fahi Dhiriulhun Corporation Managing Director Hamdhan Shakeel, the housing units were handed over after the completion of all finishing work. In addition, ten more elevators were recently brought in, raising the total number of elevators in the towers to thirty.
The remaining units under this project will be housed in 32 towers, each consisting of 17 or 18 floors. Each floor will accommodate eight apartments, including 1,200 two-room apartments and 2,800 three-room apartments.
Housing Minister Dr. Ali Haidar stated that the full completion of the 4,000 apartments is expected by mid-2025.
