Ministry of Housing and Infrastructure has signed an agreement with Amin Construction Private Limited, regarding the construction of a 20-storey apartment building in Malé.
The agreement was signed at a ceremony at Housing Ministry on Tuesday, by Minister of Housing and Infrastructure Dr Mohamed Muizzu and Managing Director of Amin Construction Abdulla Mohamed.
The building, which will be the tallest in Malé so far, will be located at the empty land in TV Koshi, adjacent to Rehendhi Koshi.
The project is expected to be completed within three years.
Speaking at the ceremony, Dr Muizzu said that the government will claim 20 percent of the building, and the remaining part will go to Amin Construction.
It will have 90 apartments, an underground parking area, and the two bottom floors will be dedicated for commercial purposes.
Abdulla Mohamed said that applications would be invited for the apartments upon completion of the design phase.
Many new factors have to be considered as this is the first building of its kind, and the design phase itself could longer than usual, Abdulla Mohamed said.
Referring to the construction of apartments in Hulhumalé, Dr Muizzu said that preparations are ongoing to construct 10,000 flats under the second phase of the Hulhumalé development project.