HDC signs MOU with Turkey companies to build flats in Hulhumal

Hulhumalé Development Corporation (HDC) has signed a memorandum of understanding (MOU) with two Turkish companies for the project of building some 1100 flat apartments in Hulhumalé.

The Turkish companies which signed an MOU with HDC are Bora Insat Snaive Tikareth Limited Siriketi, and Abdul Rahman Akarsu Limited.

Suhail Ahmed, Managing Director of HDC, told today that the MOU would pave the way for the Corporation to enter into negotiations with the two companies in order to start the project of building new flats in Hulhumalé. He said that the companies would assess the work to be done, and that if they agree to undertake the project, contracts would be signed in the future.

“Those companies have said that it is possible to build 1100 flats at the area that we had suggested. Hence, the MOU has been signed to continue assessment”, said Suhail.

The flats are proposed to be built at the Commercial area of Hulhumalé, and the flats would be of eight, ten, and twelve floors. Two lowest floors would be specialized for commercial activities, according to HDC.

Suhail said that the flats would be mixed residences, and that apartments would be of three-room, four-room, and five-room.

A Chinese company is already undertaking a project to build 1000 housing units at Hulhumalé, and a Thailand company is also continuing a project to build 180 flats.