FDC Seeks MVR 454.5m Boost for Hulhumale’ Phase II Housing Project

Fahi Dhiriulhun Corporation (FDC) Managing Director, Hamdhan Shakeel, disclosed today the need for an additional injection of MVR 454.5 million to expedite the completion of the 4,000 social housing units underway in Hulhumale’ Phase II.

In a statement shared on X platform, Hamdhan highlighted that the initial project scope, as set by the previous administration led by former President Ibrahim Mohamed Solih, lacked essential services and amenities crucial for the functionality of the housing units.

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These omitted provisions, as outlined by Hamdhan, encompass vital infrastructure such as power grid connections, security systems, GPON networks to facilitate internet access, waste disposal mechanisms, and landscaping initiatives.

He further elaborated on the collaborative efforts between FDC and the current administration to secure the requisite financing for these supplementary requirements.

Additionally, Hamdhan underscored the disparity in project progress between the two administrations, citing contrasting construction timelines.

He attributed this accelerated pace to optimised construction schedules and improved resource allocation, resulting in an average monthly slab production rising from 10 to 48.

The ongoing construction of the 4,000 housing units marks the inaugural phase of the ‘Gedhoruveriya’ housing initiative initiated by President Solih’s administration.

These units are designed to accommodate residents in two configurations: two-bedroom apartments and three-bedroom apartments.