Government and private companies will benefit from the Finance Ministry building that is being developed at Hulhumale’ : HDC

Housing Development Corporation have stated that government and private companies will benefit from the Finance Ministry building that is being developed at Hulhumale’.

HDC said that the project which was previously conducted by the Finance Ministry is now been conducted by HDC. The building is being developed in the financial district of Hulhumale’.

Office space will be rented out from the building to government companies, private companies, and banks. In addition, office space will be sold as well.

The building was contracted to WZR of Malaysia for 1.8 billion Rufiyaa on 1st March 2016. Initially it was planned to develop the building in Male’ however was change to Hulhumale’ later. The project is a contractor finance project and the money will be repaid by HDC.