300 flats to be constructed in Hulhumal

Commissioner General of Maldives Customs Service Abbas Adil Riza has announced a project to construct 300 flats in Hulhumalé, as housing for Customs staff.

Abbas Adil Riza made this announcement at a ceremony at Customs Building today.

He said that the project would be implemented in three phases, and 80 flats would be constructed in the first phase.

A Memorandum of Understanding (MoU) was signed at today’s ceremony, between Customs and Housing Development Finance Corporation (HDFC).

The agreement was signed by Abbas Adil Riza and Operations Director and Company Secretary of HDFC Raheem Saleem.

The agreement also facilitates low-interest loans via HDFC for Customs staff.

The flat project will be financed by HDFC.

Speaking at the ceremony, Raheema said that the repayment period for the loan is 20 years, and the relevant amount will be deducted monthly from the salaries of Customs staff who take the loan.

She said that land for the flat project has been secured in Hulhumalé, and the first phase will be completed within one year.