The housing projects being carried out with financial assistance from the EXIM Bank of India have been handed over to 2 companies in India and are projected to finish by 2024.
As per the information published by ‘Fahi Dhiriulhun Corporation’, an agreement of USD 226 million will provide 4000 housing units in Hulhumale’ phase 02 has been signed and handed over to two Indian Companies. The completion of the housing units by these two companies will vary. However, both of these projects will be completed by 2024.
These projects are handed over to two Indian government companies which are NBCC and JMC project. Each company will be completing 2000 housing units. NBCC has been given 900 days to complete the project meanwhile JMC has been given 1125 days to complete the project.
The NBCC project is the biggest project they are carrying out in a foreign country. These housing units will consist of a total of 1400 apartments with 3 rooms and a total of 600 apartments with 2 rooms. The project is worth around USD 130 million.