The government of India has officially handed over 700 housing units built in Hulhumale' Phase II through Indian loan assistance to the Maldives.
The housing units were handed over during the meeting between President Dr. Mohamed Muizzu and Prime Minister of India Narendra Modi during the President's ongoing official visit to India.
The project, initiated under the previous administration, aims to construct 4,000 housing units with a USD 227 million loan from India's Exim Bank. It involves the construction of 16 towers by KPIL and another 16 towers by NBCC in Hulhumale'. Out of these, 700 units have been completed and handed over after the final finishing touches.
The entire project consists of 32 towers, which will house 1,200 two-bedroom apartments and 2,800 three-bedroom apartments. The two-bedroom units cover an area of 650 square meters, while the three-bedroom units span 900 square meters. The FDC expects the full project to be completed by mid-2025.