President Dr Mohamed Muizzu has assured that the Government’s housing programme, one of the Administration’s central pledges, is proceeding without interruption and that major housing projects will be completed and handed over to citizens by mid-2028.
The President made the remarks while responding to questions from journalists at a press briefing held at the President’s Office on Monday morning.
President Dr Muizzu said the Administration’s approach to housing differs from that of previous governments, stating that the focus is not only on completing the physical structures of flats, but on ensuring that homes are fully habitable and ready for citizens to move in.
The President said all preliminary preparations for housing projects across 13 islands, awarded in late 2025, have now been finalised. He said financial arrangements have been completed and advance payments have also been settled.
According to the President, foundation laying and concrete works for all but one of the projects will begin in July, with full completion scheduled for mid-2028.
The projects include housing developments under the Bank of Maldives affordable housing finance model in Hulhumalé and Vilimalé. The BML projects are being implemented through a lease-to-own structure, intended to provide a pathway to home ownership for eligible households.
The BML affordable housing programme has become a major component of the Administration’s “Housing for All” policy. The programme was initially announced for more than 3,000 housing units in Hulhumalé and Vilimalé. Subsequent public reporting stated that the project has since been expanded, bringing the total planned number of BML housing units to nearly 4,000.
Construction activity has already begun on several components of the BML scheme. Previous announcements and reporting have identified projects in Hulhumalé Phase I, Hulhumalé Phase II and Vilimalé, involving both Maldivian and foreign contractors. The developments include units being built by China Machinery Engineering Corporation, Beijing Urban Construction Group, Rasheed Carpentry and Construction, Amin Construction and FW Construction.
President Dr Muizzu also said the Government will continue affordable housing loan schemes facilitated through BML. He said the Administration is working to expand the Housing Trust Fund and introduce equity financing opportunities, with the aim of simplifying access to home construction finance.
The Government has previously promoted the Hiyaavehi housing finance scheme as a mechanism to support home construction and completion. The scheme has been reported as offering subsidised financing at a five percent rate, with a long repayment period and low-equity terms, targeting households seeking to build or complete homes in the atolls, urban centres and the Malé region.
The President also addressed stalled housing projects in the atolls, saying the Government will restart such projects through alternative financial models.
In HDh. Kulhudhuffushi, President Dr Muizzu said the 400-housing unit project will be restarted, with an 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 in Kulhudhuffushi, described as the largest housing initiative in the atolls, within two and a half years.
Kulhudhuffushi has been one of the focal points of public concern over housing delays. Earlier reporting from local media noted that the 2,000-unit project had faced criticism from residents after physical works stalled, despite a foundation-laying ceremony being held earlier this year. The project forms part of President Dr Muizzu’s electoral pledge to expand housing access in the northern city.
The earlier 400-unit Kulhudhuffushi housing project has also faced delays. Previous reporting stated that the project was contracted in 2022 and involved the construction of five apartment buildings, with three-bedroom units intended to address the city’s housing shortage.
Referring to the Rasmalé land reclamation project, President Dr Muizzu said around 60 percent of the project is currently complete. He said stalled works will resume, with the objective of completing reclamation by the end of this year.
Rasmalé remains one of the Administration’s flagship land and housing initiatives for the Greater Malé Region. Earlier project updates reported substantial progress in reclamation works, including rapid advancement at Site A and the use of major dredging equipment operated by international marine engineering firms. The project is intended to expand land availability for future residential development.
The President also addressed the publication of housing beneficiary lists, saying comprehensive verification is underway before the lists are released. He said the Administration is departing from previous practices by conducting the process with greater transparency and scrutiny.
Housing beneficiary lists have been a sensitive public issue in recent years. The Gedhoruveriya housing scheme, launched under the previous administration, was subject to complaints and scrutiny after the publication of beneficiary lists. The Anti-Corruption Commission intervened in the process in 2023, and later reviews raised questions about eligibility and allocation procedures.
President Dr Muizzu said the Government will ensure that land and flats are awarded to rightful recipients, free from political influence or undue interference.
The President reiterated that the Administration’s objective is to deliver unprecedented results and provide a lasting solution to the country’s housing challenges. He said all housing initiatives will be carried out with transparency, fairness and without political influence.
The housing programme is being pursued at a time when the Maldives faces continued fiscal and financing pressures. International financial institutions have warned that the country remains exposed to high public debt, foreign exchange constraints and rising external debt service obligations. These pressures make timely project delivery, transparent beneficiary selection and sustainable housing finance central to the credibility of the Government’s housing agenda.
For many Maldivian households, especially in the Greater Malé Region and fast-growing urban centres, housing remains one of the most urgent cost-of-living issues. The success of the Administration’s programme will depend not only on completing buildings by the announced deadline, but also on whether the homes are affordable, habitable, fairly allocated and supported by essential infrastructure.
