Fahi Dhiriulhun Corporation (FDC) has contracted India’s Kalpataru Projects International Limited (KPIL) to develop an additional 4,000 housing units in Hulhumale’.
KPIL is an industry leader in oil and gas, energy and infrastructure in India. It’s subsidiary, JMC, is currently developing 2,000 housing flats in Hulhumale’ Phase 2, which was contracted by FDC as well.
The signing for the 4,000 housing units development was signed between FDC Managing Director Salfiyya Anwar and KPIL’s Country Head to the Maldives Sarwajeet Singh.
The housing project will be carried out in two phases, with 2,000 units developed in each. Each 2,000 housing units will consist of 1,400 three-bedroom apartments and 600 two-bedroom apartments.
FDC contracted KPIL for USD 165 million (MVR 2.5 billion) and is required to complete the project within three years.
Besides contracting the additional 4,000 units, FDC is currently developing 32 18-storey towers in Hulhumale’ Phase 2 which consists of 1,200 two-bedroom apartments and 2,800 three-bedroom apartments.
FDC is working to complete the towers before the end of 2023, and is in the process of finalizing the list of apartment awardees.
