Housing Ministry to resume stalled Tata housing project
16 Jul 2014, 2:15 PM
The government expects to sign a revised agreement with Tata Housing Developing Corporation next week to resume stalled housing projects in the capital Malé, Housing Minister Dr Mohamed Muiz revealed at a press conference yesterday.
The terms of the agreement were revised on the advice of the cabinet’s economic council after agreeing to some of Tata’s conditions, Muiz explained, and have now been forwarded to the Indian real estate developer for final approval.
“We have agreed that work must begin in two sites in Malé within 45 days of signing the amendments [to the contract],” Muiz said, referring to the Gaakoshi plot and former Arabiyya School premises.
Muiz further revealed that the government has also agreed to give back the vacant ‘Naadhee’ plot in Malé and approve construction on the site.
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