Business

350 Luxury Flats to Be Built in Rasfannu Area by 2020

The government of Maldives has handed over the huge project of constructing 4 towers of 25-story buildings containing 350 luxury flats to a Singapore based construction company; Chang Hua.

Ministry of Housing and Infrastructure revealed that this is the same company constructing the 25-story building of IGMH. This company went through a bidding process for acquiring this project. Housing ministry further stated that they opened the bid for this four times and this company won since it was the only company eligible to construct such a massive project.

According to the Media Consultant of Housing Ministry, Ahmed Fazal, these flats will be built in the empty land on the west side of Rasfannu, between the BG stadium and the netball court of social center.

“Currently there are youth sport centers there and the Ministry have informed to empty that space to the relevant parties. Although this space will be emptied for the time being, a temporary space for sport facilities will be provided” Fazal stated.

Moreover, Fazal mentioned that this project will be completed by 2020 and 120 flats out of the 350 flats will be handed over to the government.

“It is planned to keep 40% of the land for open green space and 4 floors of the buildings will be allocated as parking space which will have the capacity to park 500 cars and 300 motorcycles. The 120 flats handed to the government will be sold at a controlled price” Fazal mentioned.

In addition to this, there will be a conventional hall and retail shops there too.

Related:   MVR 50 million budgeted for the promotion of Maldives in 2018

Full details are available from the link below:

Source URL: Corporate Maldives

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