Housing Development Corporation (HDC) signed an agreement with FEDO Private Limited, on Tuesday, to build 53 flats in Hulhumale Phase I.
According to the agreement, FEDO was given more than 12,290 square feet of land to build 53 mixed-use residential units in Hulhumale, with the price of some units to be set by HDC.
According to HDC, the project’s 10-story building is planned to be finished in the first quarter of 2025.
HDC has awarded multiple projects to private company to build various types of housing complexes, such as luxury and mixed-use resident apartments.
Most units in Hulhumale Phase I are still under construction, and there have been concerns about construction delays.