OIA HAS BEEN AWARDED THE PRESTIGIOUS PROJECT FOR THE CONSTRUCTION OF LOW COST HOUSES IN THE REPUBLIC OF MALDIVES. IT CONSTITUTES A TOTAL NUMBER OF 485 HOUSES, OF WHICH 386 WILL BE IN THE HULHUMALE AREA AND 99 IN THE THINADOO AREA. THE VALUE OF THE CONTRACT IS USD 39 MILLION AND THE PROJECT IS EXPECTED TO BE COMPLETED BY MIDDLE OF 2014.
Maldives is faced with multiple factors such as an increasing scarcity of land; high costs of construction and reclamation; the need to accommodate many more uses and the need to respond to the need and desire of households to locate in areas that are better serviced, secure and have better economic prospects. This is particularly critical now, as the Maldives is going through political, economic and demographic changes, which, if left unaddressed could leave the disadvantaged and vulnerable groups, such as the poor, women and singleheaded households, marginalized by their socio-economic and historic circumstances, leaving their rights and their needs unrecognized and unmet. Several strategies have been formulated to address these issues, most important of which is the goal for attaining "Adequate housing for all".
The Government has recognised that the affordability of housing needs to be extended through better availability of land and housing finance to improve access to housing, especially for the disadvantaged and vulnerable groups whose circumstances and socio-economic situation are such that their needs are beyond the market, such as women and single-headed households and those affected by disasters and displacement. With these considerations in mind, the Ministry of Housing & Environment, Male, Republic of Maldives awarded OIA the project, in 2012, for the construction of low-cost houses in the Republic of Maldives. Based on the directives and terms of the contract, OIA will engineer and construct a total of 485 houses, of which 385 will be in the Hulhumale area and 100 will be in the Thinadoo area. OIA will be using the latest Mivan Shuttering technology for building these affordable homes. The value of the contract is USD 40 million the project is expected to be completed by end of 2014.