The EXIM Bank of India has come to a formal agreement with Fahi Dhiriulhun Corporation Limited (FDC) of Maldives to extend Buyers Credit to develop 4,000 social housing units in Hulhumale’ Phase-2.
Moreover, the Buyers Credit from the bank is reported at an approximate total of USD227 million.
Reports also attest that the construction of the social housing units will be carried out by National Buildings Construction Company (NBCC) and JMC Projects (India) Ltd. Both companies boast with valued experience in real estate development and civil construction projects at India and abroad.
Earlier, both the companies signed on with FDC to finalize the construction and design-related details of the housing project.
Furthermore, with Thursday’s agreement from EXIM Bank of India the companies will proceed to implement the project promptly.
FDC reports that the housing units will include a total of 2,800 units with 3-bedrooms and 3-toilets with remaining 1,200 units accommodating 2-bedrooms and 2-toilets.