FDC signs framework agreement to build 3,000 housing units

FDC’s Managing Director Hamdhan Shakeel and Onyx Builders’ Managing Director Hassan Hussain sign framework agreement for the construction of 3,000 housing units on January 4, 2024. (Photo/FDC)

Fahi Dhiriulhun Corporation (FDC) has signed a framework agreement with a joint venture to develop 3,000 housing units in the Maldives.

According to FDC, the project is contracted to a JV between Sri Lanka’s Hayleys Aviation and Projects and Maldives’ Onyx Builders.

The framework agreement was signed by FDC’s Managing Director Hamdhan Shakeel and Onyx Builders’ Managing Director Hassan Hussain on Thursday.

According to FDC, the JV will design, finance and construct the 3,000 social housing units.

However, the FDC did not say where the units would be built. It said in a statement that the units would be built in “areas determined by the government.”