Building the housing flats for the middle class income sector of the economy has been awarded to the 7 companies by Housing Development Corporation, HDC.
The seven companies selected to under take this project are:
- Mala Highrising Construction
- Inoka Private Limited
- Associate Private Business Agents
- Maldives Private Limited
- Keystone International Glat Investment
- Javaahiru 11
- Galon Private Limited
Speaking to the media, an official from HDC stated that they would be commencing with the signing with the companies soon.
The flats are to be built on the Hulhumaale neighborhood 1 and would range from 2600 to 2713 sq ft and will be prices at MVR 1200 per square feet and HDC is obliged to pay the company the amount 2 years after the final draft of the plan is passed. and the companies must start work after the detailed floor plans are finalised within the two year period.