Thursday
30th Apr 2026
Dhivehi Edition
Photo: President's Office.
President Dr Mohamed Muizzu has assured that all housing projects launched by the Government will be completed by mid-2028, allowing beneficiaries to move into their new homes within the current presidential term.
Speaking at a press briefing, the President acknowledged that some housing projects have faced delays. He explained that the slower pace was partly due to the Government’s decision to implement projects through investor-financed models rather than relying solely on the State budget.
President Dr Muizzu noted that no previous administration has managed to complete housing projects and hand them over to recipients within a single term. He said the current Government is determined to change this record by ensuring timely completion and handover of units.
He reaffirmed that the 3,260 housing units being developed in Hulhumalé and Villimalé with financing from the Bank of Maldives (BML) are on track to be completed by July 2028.
The President added that additional housing projects are being planned alongside these, including further initiatives under the affordable housing policy introduced by the Maldives Monetary Authority. These will increase the total number of units beyond those financed by BML.
Efforts are also underway to develop more housing units with support from foreign partners, including projects financed through India’s line of credit. Technical work on these externally supported projects is progressing.
“Our aim is to hand over flats to those selected under the current housing scheme within this term. That includes around 8,000 flats. This means practical work on all these projects must begin within the next one to two months,” President Dr Muizzu said.
He stated that physical construction on all housing projects is expected to commence, at the latest, within the second quarter of this year. Construction of the BML-financed units has already begun.
In addition to projects in the Greater Malé Area, housing developments in the atolls — funded through both BML financing and the State budget — are also expected to be completed and handed over to beneficiaries within the current term.