Urbanco has formally announced the construction of 16 new residential buildings in Hulhumale’, during the Maldives Living Expo, where land was officially handed over to the appointed construction firms.
The construction encompasses 10 residential buildings in Hulhumale’ Phase 1 and 2, along with six mixed residential structures in Hulhumale’ Phase 1. Fifteen local companies have been entrusted with the task.
An Urbanco representative revealed in a conversation with Mihaaru that the new structures would accommodate approximately 1,800 housing units. Furthermore, they highlighted that 60% of these units are intended for the mid-range market.
The representative emphasised Urbanco’s commitment to supporting local businesses.
“Most of the assigned plots are the regular and smaller ones that are currently vacant. We remain dedicated to allotting more land from Hulhumale’ to local enterprises for housing endeavours,” he remarked.
Prospective developers can expect to see further available plots showcased on Urbanco’s app in the near future.