FDC to Build 13,000 Housing Units in Male' Area
Fahi Dhiriulhun Corporation (FDC), a leading organization in the Maldives’ housing sector, is taking an exciting step toward solving the housing crisis in Male'. The company is set to embark on a monumental project that will deliver 13,000 housing units to the capital. This is a major part of the government's long-term vision to improve living conditions for locals, and it promises to bring positive changes to Male' residents.
In a major development, FDC has partnered with three international companies to bring this vision to life. One of these agreements is with a Sri Lankan firm, which has been entrusted with constructing 3,000 of the housing units. These collaborations not only bolster the project’s credibility but also align with the government’s goal to provide affordable and sustainable housing in the capital.
This ambitious project is closely tied to the larger national housing plan announced by President Dr. Mohamed Muizzu. Last month, the president revealed the government's plan to develop a total of 27,000 housing units across the country. Of these, 15,000 units will be built in Male’, while the remaining 12,940 will be distributed across the atolls. FDC's contribution of 13,000 housing units will significantly aid in addressing the growing demand for housing in Male'.
FDC's Managing Director, Hamdhan Shakeel, has stated that the company is currently working on securing funding for this large-scale project. Loans from various foreign finance agencies will be the primary source of financing. With the necessary permits expected to be obtained within the next two months, the project is slated for an official launch in just four months.
This timeline sets the stage for rapid progress, as the development of these housing units is expected to take a major leap forward in a short amount of time. Once completed, this project will transform the landscape of Male’, offering more affordable housing options for the growing population.
With a population that continues to grow and a limited amount of available land, Male’ has been facing a severe housing shortage. The FDC’s project is a timely and much-needed solution to this issue. By providing 13,000 new homes, FDC is helping to ease the strain on the housing market, offering more opportunities for residents to find affordable housing in the capital.
This housing initiative is not just about building homes; it is part of a broader strategy to improve the living conditions across the country. The government's focus on national development includes providing citizens with quality homes that are affordable and sustainable. The collaboration between FDC and its international partners is a clear indication of the serious commitment to meeting the country’s housing needs.