More than 3,100 semi-luxury and luxury apartments are currently under development at various stages across Hulhumalé, Housing Development Corporation (HDC) Managing Director Ali Zuhair said.
Speaking on the “Ahaashey Bunaanan” programme broadcast by Public Service Media (PSM), Managing Director Zuhair shared details of housing projects being undertaken by various parties in Hulhumalé.
He said 12,831 semi-luxury and luxury apartments have so far been developed under real estate projects in Hulhumalé Phase I and Phase II. The units were developed through 172 developments, while work is progressing on a further 3,163 units under real estate projects.
Of the units currently under development, 1,763 are semi-luxury apartments and 1,400 are luxury apartments. Managing Director Zuhair said work on the units is progressing at various stages.
Alongside these real estate projects, work has begun on Bank of Maldives (BML) affordable housing units in Hulhumalé. He said the initiative is a special project undertaken jointly by BML, the Ministry of Infrastructure, Housing and Urban Development and HDC, with physical work already visible in some areas.
Further social housing projects are also planned for Hulhumalé. Managing Director Zuhair said the required land has already been identified and handed over to the relevant parties, assuring that additional social housing projects would also be introduced in Hulhumalé in the future.
HDC's housing development efforts also extend beyond Hulhumalé, with the corporation undertaking housing projects on islands across the atolls. He said HDC has been entrusted with developing approximately 5,000 housing units in different parts of the Maldives.
Of these, work on 400 housing units in Haa Dhaalu Kulhudhuffushi has already begun and is progressing. Managing Director Zuhair said HDC is also working at various stages to prepare the drawings required to begin work on the remaining islands and secure the financing needed for the projects.