Fahi Dhiriulhun Corporation (FDC) Managing Director Hamdhan Shakeel has stated that an additional MVR 454.5 million is needed to complete the 4,000 flat project in Hulhumale' Phase 2.

India's Exim Bank funded 32 towers with 4,000 flats at a cost of $227 million (MVR 3.5 billion). Of these, 16 towers with 2,000 flats were handed over to JMC. The other 16 towers, which contain 2,000 flats, were handed over to NBCC. They are two Indian companies.

Hamdhan said in a post on X today that the scope of the project did not include key services and facilities such as connecting the towers to the power grid, security systems, the GPON network to connect the towers and tenants to the internet, and other media.

Therefore, an additional MVR 454.5 million is needed to complete the works, he said.

Hamdan added that 216 slabs had been laid within 22 months after the previous government started the work. However, the government has installed 192 slabs in the last four months alone, he said.