EXIM Bank of India completes their agreement with Fahi Dhiriulhun Corporation Limited (FDC) of Maldives to provide a Buyers Credit to develop 4,000 social housing units at Hulhumale’ Phase-2.
Furthermore, EXIM Bank’s Buyers Credit is worth an approximate total of USD227 million.
Moreover, the social housing project will be developed by both National Buildings Construction Company (NBCC) and JMC Projects (India) Ltd, both of which hold decorated portfolios of real estate development and civil construction project in India as well as in foreign locations.
Earlier, it was reported that the contractors had signed with FDC to finalize both the construction and design-related details of the project.
With Thursday’s agreement between EXIM Bank and FDC, the contractors are expected to immediately implement the project.
Meanwhile, FDC reports the housing units will include 2,800 units with 3-bedrooms and 3-toilets and 1,200 units with 2-bedrooms and 2-toilets.