FDC to Develop 13,000 Housing Units in Greater Malé Region

Fahi Dhiriulhun Corporation (FDC) has announced plans to develop 13,000 housing units in the Greater Malé Region as part of a comprehensive initiative to address the Maldives' housing crisis. The project will be executed under a framework agreement signed with three international banks.

According to FDC Managing Director Hamdhan Shakeel, the corporation has also partnered with a Sri Lankan company to build 3,000 social housing units, with financing efforts ongoing. Additionally, agreements with two other foreign companies aim to construct 10,000 housing units, supported by international loans.

In Hulhumalé Phase II, FDC is currently developing 4,000 housing units, with completion targeted for next year. Outstanding payments of USD 1.2 million for this project have been addressed to ensure its timely progress.

The Maldives' housing crisis remains a critical social issue, prompting President Dr. Mohamed Muizzu to prioritize housing development during his tenure. The 2025 state budget reflects this commitment, with its largest allocation dedicated to housing initiatives.