The Minister of Housing, Land, and Urban Development Dr. Ali Haidhar Ahmed has announced that Fahi Dhiriulhun Corporation (FDC) will now be responsible for implementing housing projects across the Maldives.
Speaking at a press conference on the government’s reform initiatives, Minister Dr. Haidhar highlighted a significant change in the structure of FDC, which is now transitioned into a subsidiary of the Housing Development Corporation (HDC).
The minister noted FDC is already managing a major social housing project and will henceforth oversee all social housing projects nationwide. The shift aims to streamline housing development efforts and ensure uniformity in the execution of housing projects across the country.
Currently, a total of 4000 housing units are being developed in Hulhumale' under FDC-JMC and FDC-NBCC housing project. This includes 1400 units of 900-square-foot, 3-bedroom apartments, and 600 units of 650-square-foot, 2-bedroom apartments.
During the press conference, Housing Minister Haidhar mentioned that FDC will not only carry out housing projects in Hulhumale', but carry out housing projects across the country. The minister further elaborated that with this change, HDC will henceforth act as the master developer. He said HDC will also take on the role of master developer for urban centers in different parts of the country.
Further, the minister also mentioned the President intends to convert HDC into a public limited company and eventually sell its shares to the public, aiming to involve the broader population in the country's urban development efforts.