Managing Director of Housing Development Corporation (HDC)، Mohamed Saiman has said that over 60،000 jobs will be created when development of the Youth Coty in Hulhumalé phase two is completed.
Saiman said so in the ceremony held today at Finance Ministry to sign the USD 80 million loan agreement by Saudi Arabia to develop Hulhumalé phase two.
“President Yameen’s policy to develop Hulhumalé is not only urbanising the whole country”، said Saiman.
Asim said that in addition to flats being built in the Youth City and citizens getting settled there، the economic work which will begin there will create a lot of job opportunities.
Saiman said that President Yameen’s pledge to create 94،000 jobs will definitely be fulfilled by the end of land reclamation in Hulhumalé. Hence، when the Youth City is fully developed، around 60،000 jobs will be created with this project.
Saiman said that seven bridges will be built in the Youth City that President Yameen has decided to develop and that the Saudi funds will be used for this purpose.
“We see that government organisations are working very hard in the development of the Youth City. The results of this are visible. This loan agreement is a record agreement”، said Saiman.
Saiman said that the Youth City is being developed at such a rapid rate because of the attention paid towards the project by President Yameen and that HDC is now working on the show prediction of Hulhumalé phase 2.
Saiman said that the USD 80 million loan will further increase the rate of development and this loan will be used for four different areas، including a sheet filing project، creating channels and the work of two harbours.
“Hulhumalé second phase will be a city with many bridges”، said Saiman.
Saiman said that two bridges are planned to be built in economic zone and yacht marina and that the Youth City is a hopeful city. Saiman also said that when this city is developed، a lot of jobs will be created and the uses of the city will increase because of the Malé-Hulhumalé bridge.
While the land reclamation of Hulhumalé second phase finished in the beginning of this year، activities to plant trees on the reclaimed land were carried out recently.
While the government decided to develop Hulhumalé as a youth city، His Excellency President Abdulla Yameen Abdul Gayoom has previously called out to small populations in small islands and elderly people to prepare themselves for migration to Hulhumalé.