Fahi Dhiriulhun Corporation (FDC) has paid an advance payment for the building of 4,000 housing units in Hulhumale Phase 2 through two separate projects.
According to a statement published today, FDC paid an advance payment for one of the projects on December 15 under the agreement to develop 2,000 housing units with India’s NBCC Limited.
Furthermore, according to FDC, the upfront payment for the 2,000-housing-unit project to be constructed by India’s JMC Projects was made on December 9.
On September 23, FDC and the Exim Bank of India signed an agreement for the two housing projects, which are being carried out with loans from the Exim Bank of India.
The housing units will be built by two Indian companies, NBCC India Limited and JMC Projects (India) Limited, under a contract with the FDC. The project is scheduled to commence before the end of the year.
The social housing units built under the two projects will have two and three bedrooms. The 2-bedroom homes will be 650 square feet in size, while the 3-bedroom ones will be 900 square feet.
