News Desk
MALÉ, – President Dr Mohamed Muizzu has pledged that housing projects initiated by his administration will be fully completed and handed over to beneficiaries within his current presidential term, vowing to break a historical cycle of multi-term infrastructural delays.
Speaking at a press conference at the President’s Office on Monday, Dr Muizzu noted that previous administrations had consistently failed to design, construct, and populate public housing developments within a single five-year mandate. He stated that his administration aims to shift this paradigm, targeting the completion of a vast majority of ongoing housing units by mid-2028.
“We are working to achieve what has never been done before in the Maldives,” President Muizzu told reporters. “Historically, no administration has managed to completely finish a housing project and move residents into those flats or units within its own term. We are determined to change that.”
The president detailed that advance mobilization payments have already been disbursed for state housing projects across 13 islands, financed via arrangements with the Bank of Maldives (BML). Furthermore, structural foundation works and concrete pouring for major housing complexes within the Malé greater area are scheduled to commence this July.
Key Housing Initiatives and Financial Models
- Stalled Projects: A significant number of housing developments initiated under the previous government that had ground to a halt have now been systematically remobilized.
- Bilateral Support: The administration is currently engaged in advanced negotiations with the governments of both India and China to secure further credit lines and structural backing for national housing projects.
- Rasmale’ Development: Land plots allocated from the Rasmale’ reclamation project will be formally handed over to recipients within the current term, alongside essential services to make the area fully habitable.
- The Housing Trust Fund: Plans are underway to expand the national Housing Trust Fund, with the upcoming state budget incorporating specialized “equity finance” mechanisms. This restructuring aims to help private landowners secure bank loans easily to develop their personal plots.
- Policy Focus: The administration expects the first wave of regional housing units across several outer islands to be completely finalized by late next year, anchoring housing as the central pillar of the government’s domestic policy.
