FDC Signs US$165M Deal with KPIL for 4,000 Social Housing Units
Fahi Dhiriulhun Corporation Limited (FDC), a 100% state-owned company mandated to provide social housing to the citizens of the Maldives, has signed an Engineering, Procurement, and Construction (EPC) contract with Kalpataru Projects International Limited (KPIL) of India. Under the US$165 million deal, 4,000 social housing units will be constructed in the Greater Male region.
The contract signing ceremony took place at the FDC Head Office on Wednesday, where Managing Director Ms. Salfiyya Anwar and Mr. Sarvajit Singh, Vice President – Projects, Country Head Maldives, represented their respective organisations to finalise the partnership.
The project consists of two phases, the first of which involves the construction of 2,000 social housing units in Hulhumale’. This phase includes 1,400 three-bedroom units spanning 900 square feet and 600 two-bedroom units covering 650 square feet. Scheduled for completion within 37 months from the commencement date, this phase seeks to ease the pressing demand for housing in the Greater Male region.
In addition to offering housing at subsidised rates to vulnerable groups, FDC will also provide affordable housing options for first-time homebuyers. The company has been assigned the responsibility of undertaking all government housing schemes across the country and ensuring the maintenance and refurbishment of existing social housing units.
KPIL, a well-experienced player in housing development, is concurrently working on another 2,000 Social housing units in Hulhumale’ Phase 2.
This site uses Akismet to reduce spam. Learn how your comment data is processed.