The Housing Development Corporation announced that land reclamation in Hulhumalé Phase III had resumed, with 15 hectares reclaimed and Segment B covering banking sand on 29 hectares. The wider project, contracted to Colombo-based Capital Marine and Civil Construction for an estimated US$268 million, is set to raise Phase III's total land area to 63 hectares.
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This segment involves banking sand on 29 hectares of land, with over half of the area already reclaimed.
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The first stage of the reclamation work, Segment A, was initiated in mid-September 2023 and concluded the following month, with 10 hectares of land successfully reclaimed.
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The third stage of the reclamation project will involve banking an additional 24 hectares of land, thereby increasing the total land area in Phase III to 63 hectares.
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thereby increasing the total land area in Phase III to 63 hectares
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The land reclamation project, contracted to the Colombo-based Capital Marine and Civil Construction (CMC) in late August 2023, is estimated to cost US$268 million.
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granting the company development rights for a period of 99 years
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An additional 10 hectares of land from Hulhumalé have been allocated to CMC for a similar duration, along with an advance payment of US$20 million.
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along with an advance payment of US$20 million
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The land reclamation project, contracted to the Colombo-based Capital Marine and Civil Construction (CMC) in late August 2023, is estimated to cost US$268 million.
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President Muizzu announced the commencement of the second stage on the social media platform X, where he shared visual documentation of the ongoing work.
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