The government has launched a project to build 400 affordable housing units in Hulhumale' with a loan from the Saudi Fund for Development (SFD).

The project was inaugurated by the Chief Executive of SFD Sultan bin Abdulrahman Al-Murshid and Finance Minister Moosa Zameer on Monday.

Officials from the Housing Development Corporation (HDC), SFD and the government attended the ceremony.

The Housing Ministry said the selection of a consultancy firm for the project is currently underway. SFD will provide a loan of USD 25 million for the project.

The ministry said practical work in the project is expected to start in the last quarter of this year.

The assistance for the project was confirmed under the former administration. The first signing ceremony was held at the Foreign Ministry in 2020.