A Memorandum of Understanding (MoU) has been signed for the infrastructural development of Hulhumalé Phase III.

The agreement was signed between the Housing Development Corporation (HDC) and China Machinery Engineering Corporation (CMEC), on Tuesday.

In a post on social media platform ‘X’ following the signing ceremony, HDC revealed that the project would bring a new era of development.

As part of the agreement, a new power grid will be installed in Hulhumalé Phase III. It also covers the establishment of a Gigabit Passive Optical Network (GPON) as well as improved road network including fire safety, water and sewerage.

HDC revealed that the project would redefine the suburbs’ infrastructure, with state-of-the-art progress.

Details of the cost of the project have not been shared by the company.