President Dr Mohamed Muizzu has assured that housing provision for citizens, one of the Administration's most significant pledges, is proceeding uninterrupted and that major housing projects will be completed and handed over to the public by mid-2028.
The President made these remarks at a press briefing held at the President's Office this morning.
During the briefing, the President emphasised that, unlike previous administrations, the current Government is prioritising not merely structural completion but ensuring that flats are fully habitable and ready for citizens to move in. He noted that all preliminary preparations for the housing projects across 13 islands, awarded in late 2025, have been finalised, with financial arrangements and advance payments already settled. These initiatives include the Bank of Maldives (BML) housing finance projects in Hulhumalé and Villimalé. The President affirmed that, with the exception of one project, foundation laying and concrete works for all projects will commence this coming July, with full completion slated for mid-2028.
The President further stated that the affordable housing loan schemes facilitated through BML last year will continue this year. He highlighted the Administration's ongoing efforts to expand the Housing Trust Fund and introduce equity financing opportunities, aiming to streamline the process of building homes for citizens. He also noted that, alongside next year's budget allocations to augment the fund, current operations will continue on existing resources, with the Government working with banks to provide accessible financing for home construction.
Additionally, the President revealed that other stalled projects in the atolls will be restarted under alternative financial models. Specifically, the 400-housing unit project in HDh. Kulhudhuffushi will be restarted, with the agreement to award the contract to a private contractor expected to be concluded this week. He also announced plans to complete the 2,000-housing unit project on the same island, the largest housing initiative in the atolls, within two and a half years.
Referring to the Rasmalé land reclamation project, the President indicated that around 60 per cent of the project is currently complete. He stated that stalled works will be resumed, with the goal of completing the reclamation entirely by the end of this year. Addressing the publication of housing beneficiary lists, the President assured that comprehensive verification processes are underway prior to their release. Departing from previous practices, he stressed that the Administration is conducting the process with the utmost transparency and rigour, guaranteeing that land and flats will be awarded to rightful recipients, free from any undue influence.
The President reiterated that the Administration's primary objective is to deliver unprecedented results and provide a lasting solution to the country's housing challenges, with all initiatives carried out free from political influence, in full transparency and fairness.
