Fenaka Corporation has announced a bid for interested parties to construct a 15 storey residential tower under the administration's shelter program.

As per an announcement made by Fenaka, the tower is to be built in phase-2 of capital Male' city's suburban Hulhumale.

Opportunity for interested individuals has been opened to construct the 12,000 square foot tower.

The utilities company had even previously announced the planning of construction work for two more towers.

While some state companies have announced their plans to construct residential towers in Hulhumale under the shelter program earlier, some of them have even started the construction works, including the construction of 7000 flats handed to a chinese company.

This project is worth approximately MVR 6.5 billion (USD 423 million).