Industrial and Commercial Bank of China has given a loan to develop 7000 housing units in Hulhumale 2nd phase.
HDC said that with this loan 16 towers of 25 floors will be developed and it will be conducted by China State Engineering and Constructions Company. HDC said that CSCEC have already started doing some work.
This is the largest loan to be taken by the government to develop housing units. ICB gave this loan with an interest rate lower than 4 percent and has to be returned in 15 years.
Under this project, 2-room apartments of 550 square feet will be developed.
ICB awards a loan to develop 7000 housing units in Hulhumale’ 2nd phase!
