Photo Credits : Haveeru online.

On the 14th of September 2015, Maldives and Saudi fund signs the loan agreement which would provide USD80 million for the development of the second phase of Hulhumalé.

The loan agreement was signed on behalf of Maldives by the finance minister of Maldives Mr. Abdulla Jihad. The ceremony was further attended by the managing director of HDC, Senior government officials and of the Saudi fund.