a) Island Expert Pvt. Ltd. signed an Agreement with Police Cooperative Society for the design and construction of 361 flats in Hulhumale for Maldives Police Service staffs (POLCO) Police Cooperative Society.
b) The Project consists of:
-
Construction and completion of three condominium blocks of 361 flats
-
Construction and completion of commercial lots in the ground and first floor of each of the three condominium blocks
-
Related appurtenances and easements required for the condominium blocks.
c) The total value of the project is MRF 628,156,789.92
Housing Project: Phase I
Island Expert Pvt. Ltd. signed an Agreement with Noomadi Resorts and Residences on 20th January 2011 to build 500 Housing units on different islands. The value of this project is USD 25,000,000.
The project scope was amended on 28th November 2013 for the development of addition 100 housing units of value USD 5,884,800.
Total of Phase I housing project is 600 units which is of value USD 30,884,800.
MHI Housing Project: Phase II
Project signed with Noomadi Resorts and Residences on 30th May 2013.
Project includes:
Construction of 500 Housing units
Construction of sewerage system in 3 islands
Phase I of Police Academy
The value of the project is USD 55,000,000.
Sifainge Cooperative Society (SIFCO) Housing Project - Hulhumale'
The Design and Construction of 330 flats in Hulhumale was also Contracted out to Island Expert Pvt. Ltd. by Sifainge Cooperative Society (SIFCO) on 21 February 2016. These flats were building for the MNDF (Maldives National Defense force staffs).
The Project consists of:
-
Construction and completion of three condominium blocks of 330 flats
-
Construction and completion of commercial lots in the ground and first floor of each of the three condominium blocks
-
Related appurtenances and easements required for the condominium blocks
The total value of the project is MVR 571,467,442.33
Other Housing Projects
Location
​
H.Dh.Hanimadhoo
H.Dh.Hanimadhoo
H.Dh.Nolhivaranfaru
Th.Vilufushi
Th.Vilufushi
L.Gan
H.Dh.Hanimadhoo
H.Dh.Nolhivaranfaru
H.Dh.Kulhudhuffushi
H.A.Dhidhdhoo
L.Fonadhoo
No. of Units
​
16
84
100
64
36
200
36
60
100
200
50
Type of Units
​
Single Storey
Single Storey
Single Storey
Single Storey
Single Storey
Single Storey
Single Storey
Single Storey
Single Storey
Single Storey
Single Storey
Start Date
​
05/2014
NA
09/2014
02/2014
NA
NA
01/2015
27/07/2013
30/07/2011
31/07/2013
NA
Expected Completion
​
02/2016
NA
01/2016
05/2016
NA
NA
03/2016
10/2015
03/2016
10/ 2015
NA
Progress
​
38%
75%
85%
48%
Land handover by MHI is pending
Cannot be started until structure completion of the balance 36 units in Th.Vilufushi.
45%
96%
45%
95%
