Housing Development Corporation (HDC) has announced the completion of the Hulhumale’ Phase II roads, a year after the deadline.
HDC in a tweet on Sunday said the remaining works include road marking and road signage, and that It's completion “would be one of the most important achievements of Phase II development.”
Here’s the latest updates of Phase II Road Network development. The roads are ready for use and remaining works include road marking and road signage works.
— HDC (@hdcmaldives) April 29, 2018
It's completion would be one of the most important achievements of Phase II development.#HDCMaldives #Hulhumalé #YouthCity pic.twitter.com/cuFSf0wrSN
The road development project was tasked to a joint venture of India’s Mohan Mutha Exports and Ashoka Buildcon Limited for USD 40.3 million (MVR 621.4 million) on 28 October 2015. At the time, it was estimated that the project would take 18 months to complete.
The tarred roads measure 14.2 kilometers. Under phase II, 240 hectares of land was reclaimed and development work has already begun. State-affiliated companies are now undertaking housing projects in the phase II area.
HDC’s managing director Mohamed Saiman has said that the project was stalled due to the time taken to secure loans from India’s Exim Bank.
