Finance minister signs biggest ever property deals
Finance minister Abdulla Jihad signed off on two contracts worth a total of US$260million for the construction of an office complex and a new wing of the state-owned Indira Gandhi Memorial Hospital in Malé.
02 Mar 2016, 9:00 AM
Finance minister Abdulla Jihad signed off on two contracts worth a total of US$260million for the construction of an office complex and a new wing of the state-owned Indira Gandhi Memorial Hospital in Malé.
The contracts for the two 25-story towers, the largest property deals by the government in Maldives’ recent history, were awarded to a Malaysian and a Singaporean contractor at separate ceremonies today.
Farhath Shaheer, IGMH’s CEO, said US$40million had been earmarked for the first phase of the hospital tower in the 2016 budget. US$60million will be paid in 2017 and the remaining US$40million would be paid off in 2018.
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