President Dr Mohamed Muizzu acknowledged the housing shortage as a major national issue and confirmed that the Government would allocate a historic budget for housing in the current year's budget. He made these remarks during the Presidential Address at the opening session of the People's Majlis for 2025.
The President described the housing issue as a significant national concern, highlighting it as one of the most important matters he aims to address, particularly as part of the fundamental rights of the people, especially in light of their struggles and hardships.
The President announced that MVR 1.5 billion has been allocated from the state budget for housing projects, enabling the construction of 12,940 units, including in the capital, Male'. He further stated that housing opportunities will be provided to residents of Male', Villimale', Hulhumale', Giraavaru Falhu, Uthuru Thilafalhu, and Fushidhiggaru Falhu.
The President announced that MVR 1 billion has been allocated in the 2025 budget to offer Islamic loans at a 5 per cent profit rate for construction on private land. He further stated that this facility will be available to the public starting in July.
The President assured that a range of infrastructure development projects would commence, including water and sanitation works, habour developments, road projects, and basic amenities. He announced that a total of 1,043 projects, encompassing stalled, ongoing, and new initiatives, would be undertaken across the country this year.
The President assured the public that the construction of the Thilamalé Bridge in Male' City, and the Link Road in Addu City would be completed within the specified timeframe this year.
