Funding confirmed for 16 25-story towers in Hulhumale’

Funding has been confirmed for the project to build 16 25-story towers in Hulhumale’ via loan from a multinational Chinese banking company, reports Housing Development Corporation (HDC).

The towers are part of Hulhumale’ Development Project Phase II.

Media official for HDC reported to “Sun” this Wednesday that a loan has been confirmed from Industrial and Commercial Bank of China (ICBC) for the tower project. But did not disclose the value of the loan.

The media official reported that the 16 25-story towers will have 7,000 housing units.

He said that construction of the towers was expected to be complete in 2018.

HDC has contracted a number of private construction companies to build multiple housing complexes in Hulhumale’.