President Dr Mohamed Muizzu attended the groundbreaking ceremony for 1,224 housing units in Hulhumale', as part of the Affordable Housing Project initiated by the Bank of Maldives (BML) under the Administration's strategic housing policy.
The ceremony was held at the Hulhumale' Phase II site of China Machinery Engineering Corporation (CMEC), the project contractor. The President was accompanied by First Lady Sajidha Mohamed, with Cabinet Ministers and senior officials from CMEC and BML also in attendance.
The groundbreaking was carried out by Minister of Construction, Housing and Infrastructure Dr Abdulla Muththalib, Ambassador of the People's Republic of China to the Maldives His Excellency Kong Xianhua, and senior officials from BML and CMEC. Following this, President Dr Muizzu joined them for a commemorative photograph.
The Affordable Housing Project forms part of the Administration's policy to develop over 3,000 housing units across Hulhumale' Phase I, Hulhumale' Phase II, and Vilimale' through the BML Affordable Home Leasing scheme, with 3,260 units to be developed across these areas. The project is structured under a lease-to-own model, offering residents a pathway to homeownership.
In his Presidential Address of 2026, President Dr Muizzu outlined that the Housing for All (Boahiyaavahikan Enmenah) policy rests on three pillars: increasing access to real estate for higher-income families, providing affordable housing for middle-income families through bank mortgages, and delivering social housing for families unable to afford homes independently. He further highlighted the Government's efforts to expand the banking sector's participation in affordable housing.
