FDC to build 18flr, 32 towers, accommodating 4000 units

Fahi Dhiriulhun Corporation (FDC), the company tasked with the development of 4000 social housing units by the government announced on Monday that they will build 32 towers with 18 floors. 

The company's Business Development and Corporate Affairs Manager Ahmed Shamool Abdulla related to 'Sun' that two Indian companies are developing the units. He added that they have secured all necessary loans and that as soon as building materials arrive, work will commence.  

FDC stated that building materials for JMC Project will arrive in Maldives on January 10, hence estimating foundation work to commence between the end of February and early March. 

The company also stated that the materials for NBCC will arrive by early February and foundation work and predicted foundation work to begin by mid-March. 

FDC had contracted National Buildings Construction Company (NBCC) and JMC Projects for the design, finance and construction of the flats. 

The contracts were signed with NBCC in February 2021, they are mandated to finish the work within 900 days. 

Meanwhile, with JMC Projects, the contracts were signed on March 2021 to complete the project within 1125 days. 

Under this project, each company will build 16 towers, with 1400 units with three rooms and 600 units with two rooms. While each three-room unit has to be 900 square feet, the two-room units are required to have 650 square feet. 

"Right now the design work is ongoing. So once that is done, we will be able to share the floor work with the public," said Shamool. 

India's Exim Bank has granted a USD 227 million loan to build the flats, which was split into two USD 116.45 and USD 110.5 loans. 

The administration has vowed to build between 15,000 and 13,000 flats within their five years in office.