Five foreign companies have been tasked with the construction of 15000 housing units in the second phase of Hulhumale’ development.
The agreement was signed in a ceremony held this evening in Republic Square. Housing Minister Dr. Mohamed Muizz and representatives of the companies signed the agreement on behalf of their respective parties. The agreements were signed with companies from Sri Lanka, Korea, China and Turkey.
China State Construction and Engineering Corporation will construct 7000 housing units of 25 floors and Turkey’s Ostaf Holdings will construct 5000 housing units of 14 floor. JV Nature Investments Lanka Pvt Ltd, Jurgen Asset Corporation and Metological Corporation China Ltd will each construct 3000 housing units.
In tonight’s ceremony, the flats constructed in Arabiyya and Gaakoshi by India’s Tata Housing was handed over to the Government. Housing Minister Dr. Mohamed Muizz accepted the flats on behalf of the Government.
Additionally, the loan documents were handed over to the recipients. The loans are on a nominal interest and on Islamic shariah principles.
Five foreign companies tasked to construct 15000 housing units
