Housing Development Corporation (HDC) has contracted SJ Construction Private Limited and Rasheed Carpentry and Construction (RCC) Private Limited to develop mixed-use residential complexes in Hulhumale’.
The contracts for the two projects were signed at a virtual ceremony held on 27th May 2021.
The mixed-use residential complex to be developed by SJ Construction will be constructed in Plot S1-4 of Hulhumale’ Phase 1. The complex will include 103 housing units, of which 61 units would have a price cap of USD 128 per sqft before tax. The other 42 units will be sold at an open market price by the developer.
Meanwhile, the mixed-use residential complex to be developed by RCC will include 116 housing units, of which 78 units would have a price cap of USD 116 per sqft before tax. The remaining 38 units will be sold at an open market price by the developer.
HDC stated that the projects were contracted to be completed within 36 months after detailed drawings are approved.
