Chinese-backed housing project underway in the Maldives

The President of the Maldives was on-hand to mark the start of the largest affordable housing project in the Maldives, which is being built by a Chinese state-run company on November 18, 2017, reports cnhubei.com.

The design sketch of affordable housing in the Maldives. [Photo: cnhubei.com]

The affordable housing project is located on the island of Hulhumalé.

China State Construction Engineering is set to create sixteen, 25 story apartment buildings in an area covering over 450,000 square meters.

Around 7,000 apartments are to be established as part of the affordable housing initiative, which is the largest in the Maldives.

China State Construction Engineering secured the bid for 434 million US dollars.

The location of the affordable housing project in the Maldives. [Photo: cnhubei.com]

The design director for the project says all 7,000 apartments will be built using Chinese building standards, but will be designed with local requirements in mind.

The Chinese government signed a deal with the government of the Maldives in 2008 to build 4,000 apartments in the Maldives.

1,000 of those apartments were completed in 2013. Construction of another 1,500 of the apartments from the original deal began in December 2014.