The Maldives Ports Limited launched Monday night a housing scheme to build 432 apartments for the state-owned company’s employees.
It is part of the Hiyaa project launched by President Abdulla Yameen in November, under which state-owned enterprises are to finance the construction of more than 17,000 flats in Hulhumalé, a reclaimed island suburb of the congested capital Malé.
According to the MPL, “over 3000 residents will be provided affordable and comfortable housing units under this project. Out of the total 534 housing units, 432 are reserved for MPL’s staff.”
Structural work began in January. The project was awarded to the Singapore-based W&A Overseas.
At a cost of MVR560 million (US$36.3 million), the project involves the construction of three 14-storey residential towers with 330 two-room apartments and 204 one-room apartments.
Speaking at the launching ceremony for the ‘Port Hiyaa Housing Scheme,’ MPL CEO Ibrahim Abdul Razzaq said a special committee has been formed to help staff with the application process, which is due to begin on Wednesday.
Housing is a hot-button issue in the Maldives, where 39 percent of the country’s 341,256 population lives on the 2.2 square mile island of Malé.
Thousands continue to migrate to the capital in search of jobs, better education and healthcare, making Malé one of the world’s most densely populated cities with families crammed into small apartments for exorbitant rents.