The Parliamentary Committee on State-Owned Enterprises (SOEs) has decided to recommend prices to be lowered for the POLCO and SIFCO flats in Hulhumale’.
POLCO and SIFCO flats are being developed for personnel of Maldives Police Service (MPS) and Maldives National Defence Force (MNDF) respectively. The project had been stalled for several years, before the government appointed a new contractor last year to complete the finishing works of the flats.
The parliament committee conducted an inquiry into the POLCO and SIFCO flats, to determine the causes of delays and to provide solutions. The final report passed by the committee includes a recommendation to lower the proposed prices of the flats with respect to market prices. The committee has recommended the commercial units and multipurpose halls developed under the project to be leased to allow a lower rent for recipients of the flats.
The finishing works of the POLCO flats were awarded to Amin Construction Private Limited in December 2021. Under the project, Amin Construction is tasked with completing the finishing works of 361 flats within 8 months, at a price of USD 17.8 million.
However, speaking at the Parliament, Minister of National Planning, Housing and Infrastructure Mohamed Aslam revealed the finishing works of POLCO flats are not expected to be completed by the given deadline. The minister said the current finishing contractor is unable to carry out the finishing works as per the schedule due to issues of the previous subcontractor that had been carrying out finishing works. He said there is a delay of about two months in actual progress, compared to planned progress of the project.