The Bank of Maldives on Monday, December 29, made official announcement of its latest venture – a new affordable housing project which would see the development of more than 3,000 units.
The national bank’s subsidiary is in charge of this initiative, which added that it has signed on developers during a ceremony held at Hulhumale’ Phase II on Monday. The contractors, China’s Beijing Urban Construction Group (BUCG) and China Machinery Engineering Corporation (CMEC) will complete development of 2,341 units.
BML’s Spokesperson, Mohamed Saeed, gave details of the project via his official X account adding that the BML subsidiary will rope in local developers for additional components of the project.
“The milestone marks a significant step forward in the implementation of MMA’s Inclusive National Affordable Housing Scheme (INAH),” BML said in its official X handle about the initiative.