Housing Development Corporation signed with four local developers today to develop pure residential apartments in Hulhumalé.

The four local developers include Inoca Pvt Ltd, Associated Business Agent Maldives, Jawahiru Eleven Pvt Ltd and Galleon Pvt Ltd. Managing Director Mohamed Saiman signed the agreements on behalf of HDC at a function held today at HDC head office.

Located at Neighbourhood 1 (near the row houses) these plots are approximately 2500 square feet in size and can be built up to eight floors.

Under the local developer’s project, a total of 7 parties were awarded and HDC expects to sign with the remaining three parties in the near future. As per the development period stipulated in the agreements, the apartments are expected to be completed by 2018.