News Desk
The foundation stone for a 300‑unit housing project in Villimalé was officially laid yesterday, marking a major step in the government’s efforts to ease housing pressure in the capital region. President Dr Mohamed Muizzu attended the ceremony alongside Housing Minister Abdullah Muthalib, Bank of Maldives (BML) CEO Mohammed Shareef and senior officials from project contractor Rasheed Carpentry and Construction (RCC).
The development falls under BML Affordable Home Leasing, a subsidiary of the Bank of Maldives. BML is financing the project, while RCC has been contracted to construct the units.
The plan features three 17‑storey towers, with completion targeted for mid‑2028.
This is the first large‑scale housing project undertaken in Villimalé since the administration of President Maumoon Abdul Gayoom. Gayoom designated Villimalé, then known as Vilingili, as a satellite island for Malé in the 1980s to ease housing pressure. Before that, the island had been used as a resort, and earlier still as a detention site for political prisoners during the Nasir administration.
Today, Villimalé is a five‑minute ferry ride from Malé. Once the Thilamalé Bridge is completed, the island will be connected to Malé along with Thilamalé, the industrial island, and Gulhifalhu, a planned housing community where plots have been allocated but the population has yet to settle.
The Villimalé housing project was a direct pledge by President Muizzu during a town hall meeting with the community, where he committed to delivering 300 units as part of his broader housing agenda.
These 300 units form part of BML’s wider portfolio of 3,260 housing units currently under development. The projects include:
- 1,224 units in Hulhumalé Phase 3, to be built by China’s CMEC
- 1,190 units to be developed by BUCG
- 364 units in Hulhumalé Phase 2 by Amin Construction
- 182 units by FW Construction
The Villimalé project is expected to become one of the key developments aimed at addressing long‑standing housing shortages for residents of Male’.
