The Minister of Housing, Land, and Urban Development, Dr. Ali Haidar Ahmed, has announced that the newly launched Hiyaavehi Financing Programme will provide much-needed housing to many families across the country. Speaking at the inauguration of the scheme, Minister Haidar emphasized that ensuring adequate housing for all citizens, particularly the homeless, is a key pledge of President Dr. Mohamed Muizzu’s administration. Minister Haidar described the Hiyaavehi Financing Programme as a vital step in overcoming the financial barriers that prevent many families from obtaining homes. He explained that the initiative is designed to offer funding for the construction of homes on undeveloped plots in various regions of the country. The scheme primarily targets individuals who do not currently own private or state-provided housing. The Hiyaavehi Financing Programme aims to provide affordable loans for the construction of homes on vacant land, with a nominal service charge of just 5%. In line with Sharia law, applicants will be required to make a “nominal contribution,” though no equity payment will be necessary for the housing resource. Eligible applicants can apply for the programme through the Hiyaavehi portal, as announced by the Ministry of Housing and Urban Development. The scheme will support a variety of housing projects, including the construction of new homes on undeveloped plots, the completion of unfinished buildings, and the repair of deteriorating structures.
