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Eagle Hills' 5000 housing units for youth, workers: President
President Dr. Mohamed Muizzu announced that 5,000 three-bedroom housing units developed by Eagle Hills in Hulhumale' Phase 3 will be designated for Maldivian youth and workers, with the government retaining full control over recipient selection and rates. He said Eagle Hills will fund the project upfront from the 10 percent revenue projected for the government through first sales of its Rasmale' real estate project, and expects structural and finishing work to be completed by August 2028.
My thinking is to assign a large number of these units to youth and workers in resorts, fisheries and other sectors. Even in these categories, priority will be given to those who don't presently have housing
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5000 unitshousing units to be developed in Hulhumale' Phase 3The EditionPresident Dr. Mohamed Muizzu announced last night that he intends to designate the 5000 housing units to be developed in Hulhumale' Phase 3 by Eagle Hills for youth and workers.
Word for word from the report in The Edition. Open the report
3-bedroomsize of housing unitsThe Editionthe developer will be constructing 5000 3-bedroom housing units for Maldivians in Hulhumale'.
Word for word from the report in The Edition. Open the report
500 hectaresreclaimed land area for Rasmale' projectThe Editionreal estate tourism project to be implemented by Eagle Hills in 500 hectares of reclaimed land in Rasmale'
Word for word from the report in The Edition. Open the report
between USD 400 million to USD 500 millionestimated cost of the housing projectThe EditionThis housing project has an estimated cost of between USD 400 million to USD 500 million, the government said then.
Word for word from the report in The Edition. Open the report
10 percentshare of projected revenue the government receives through first sales of the Rasmale' project, which Eagle Hills will use to fund the housing projectThe EditionEagle Hills will fund the housing unit project upfront from the 10 percent revenue projected for the government through first sales of the Rasmale' project.
Word for word from the report in The Edition. Open the report
USD 500 millionamount Eagle Hills is spending on the housing projectThe EditionThe President said that Eagle Hills is spending USD 500 million on the housing project on request from the government
Word for word from the report in The Edition. Open the report
