5 local companies awarded contracts for 1,000 flats in Hulhumalé Phase 3
The project is scheduled for completion within two years and five months.
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The government has signed agreements with five Maldivian companies to construct 1,000 housing units under its "Boahiyaavahikan Enmennah" (Housing for All) programme.
The agreements were signed on Thursday during a ceremony at the Ministry of Housing, Land and Urban Development.
According to the ministry, the housing units form part of the Affordable Home Ownership Scheme, which targets individuals with a monthly income of MVR 60,000 or above.
The contracts were awarded to:
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1-
SJ Construction Private Limited
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2-
A joint venture between One Reality Private Limited and Medtech Maldives Private Limited
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3-
Amin Construction Private Limited
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4-
Rasheed Carpentry and Construction Private Limited (RCC)
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5-
A joint venture comprising Flexinc Private Limited, Oxro Private Limited, Solex Private Limited and Beaver Builders Private Limited
The ministry said the completed housing units will be sold only to applicants who qualify under the government's Family Housing programme, which falls within the Housing for All policy.
Minister of Housing, Land and Urban Development Dr Abdulla Muththalib signed the agreements on behalf of the government, while representatives of the five companies signed on behalf of their organisations.
The ministry said the housing units will be developed in Hulhumalé Phase 3.
The project is scheduled for completion within two years and five months.
Under the scheme, the maximum selling price has been capped at MVR 1.8 million for a two-bedroom flat and MVR 2.3 million for a three-bedroom flat.
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