President Abdulla Yameen speaks after inaugurating the “Hiyaa” housing project in Hulhumale Phase 2. PHOTO: HUSSAIN WAHEED/MIHAARU
The bid for the government-spearheaded mega project to develop flats for 80,000 people in reclaimed suburb Hulhumale has been secured by a Chinese state-run company, report Chinese media.
President Abdulla Yameen inaugurated his administration’s largest affordable housing project in Hulhumale’s second phase of development last Saturday night. The “Hiyaa” project comprises construction of 62 towers of 25-storeys each. With total 7,000 flats, the project is slated to be completed in 2019.
While the government has not disclosed details on how “Hiyaa” is to be carried out, Chinese media report that the project has been secured by China State Construction Engineering for USD 434 million (MVR 6.7 billion).
It remains unclear when the project was awarded to the company. According to media, the bidding phase for the project lasted a year and half.
Reports state that China State Construction Engineering came up with the tower designs, and is in charge of the engineering and procurement works of the project. The media also report that the company will bring all the materials and equipment for the project to the Maldives, but details of how the project will be financed have not been released.
Mihaaru understands that Yameen had awarded the project to China State Construction Engineering prior to the inauguration, and that some aspects of development are already underway.
China is now the biggest foreign investor in the Maldives under Yameen’s regime. Notably, a Chinese company is the contractor for the landmark bridge being developed between capital Male and main airport island Hulhule, which is one of the most ambitious projects undertaken by the government.