A building for SMEs to be developed in Hulhumale’

Economic Ministry has decided to develop a 6 story building for small and medium enterprises in Hulhumale’.

Economic Ministry signed an agreement with HDC today to allocate a land plot to develop this building. The building will be developed on a 5000-square foot land in the economic zone of Hulhumale’. The six-story building is financed by IDB and ADB and costs 30 million Rufiyaa.

After signing the agreement, the economic minister Mughammad Saeed said that the target is to develop the building and start using it before the end of this year.

SME’s will get office space and storage from this building. Facilities from this building will be leased at an affordable price.

Speaking at the ceremony, MD of HDC Muhammad Simon said that since a lot of youth lives in Hulhumale’ it is important to develop such a building in Hulhumale’. He said that, endeavors like this will create more and more jobs for the youth.