Male -- The Sifainge Cooperative Society (SIFCO) has signed a construction agreement, to construct and develop the Condominium Blocks.

The contract to construct the Housing units was signed by Colonel Abdull Matheen Ahmed, the Chairman of SIFCO and Mr. Anon Songpanya, the Chairman of the Island Expert Pvt. Ltd.

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According to SIFCO, the Sifainge Cooperative Society, under this project the contractor will develop a total of 330 Housing units named “SIFCO HIYA” in thee Condominium Blocks.  In each Block consists of 110 Housing units respectively. The project value for the 330 Housing units is MVR 531,041,710.19 (Five Hundred and Thirty-one Million Forty-one Thousand and Seven Hundred and Ten Rufiyaa Nineteen Laari)

Under the contract, the contractor has to complete and handover the Housing units within 730 days. SIFCO has previously revealed that the project is aimed for the wellbeing of Military personnel. Island Expert Pvt Ltd, a strong name in the Maldives construction sector now, assured that the project will be completed within the agreed time frame.

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