FDC requires additional MVR 454.5 m to complete housing units

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Social housing towers developed by FDC | Photo: FDC

Fahi Dhiriulhun Corporation (FDC) Managing Director Hamdhan Shakeel said on Wednesday, that the state-owned corporation requires another MVR 454.5 million fund injection to complete the work on 4,000 social housing units.

The social housing units are currently under development at Hulhumale’ Phase II.

Hamdhan said via X, that the scope of the project, decided during the previous government, does not factor key services and facilities.

He added these excluded components include the connection of the towers to a power grid, security systems, GPON network, waste disposal systems, and landscaping works.

“An additional injection of MVR 454.5 million is required for the completion of this additional works left out by the previous government,” he said.

The FDC Managing Director further said the corporation was working with the current administration on securing the funds needed for the work. He stressed on the change in pace for the project under the incumbent government, adding the works have been expedited.

He further noted that a total of 216 slabs were cast over a 22-month period during the previous government, while 192 slabs were cast during the past four months.

“Through optimization of the construction schedule and facilitation of resources and other sources, we have increased the average rate of construction from 10 slabs per month to 48 slabs on average per month,” Hamdhan added.

The 4,000 social housing units developed by FDC are the first batch of flats built under the ‘Gedhoruveriya’ social housing scheme.


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