The first milestone of the Thilafushi Phase Two land reclamation project has been reached with a large portion of the work completed, the Housing Development Corporation (HDC) has said.

With land reclamation and coastal protection of Thilafushi Phase Two nearly done, the development of the island for industrial work is taking place in phases.

The sale of land for industrial work and commercial purposes is also currently underway alongside the development of Thilafushi Phase Two.

Agreements have been made with buyers of land from Thilafushi for payments to be made based on the completion of phases under the land reclamation project, HDC said.

The corporation will inform landowners about progress on the land reclamation work and the achievement of milestones, HDC added.

HDC said in a press statement that it was working to allow utilization of the land as soon as possible after completing work on the Thilafushi Phase Two project in accordance with the plan.

The reclamation of 9.6 hectares of land from Thilafushi's Area D under the master plan was contracted to Sri Lanka's Capital Marine and Civil Construction Company (CMCCC).

HDC also contracted CMCCC for the reclamation of Area C of the land to be added to Thilafushi under the master plan. The project was devised to solve problems facing the industrial sector.