Safeguarding the sovereignty and independence of the Maldives remains the foremost priority for President Dr Mohamed Muizzu. Equally significant is his administration's dedication to innovatively and sustainably addressing the nation's pervasive housing challenges.
President Dr Muizzu foresees the development of 65,000 residential housing units over the next 20 years. This visionary plan aims to revolutionise the country's housing landscape, bringing much-needed relief to the residents and ensuring a brighter future for all.
Early Actions and the Ambitious Ras Malé Project
One of President Dr Muizzu's first actions upon taking office in November 2023 was to reduce the monthly installments for housing units issued through social housing schemes. This initiative benefits residents of Hiyaa and Vinares Towers, as well as those living in the outer islands, by easing their financial burdens.
A pivotal element of President Dr Muizzu's housing strategy is the Ras Malé project. This flagship initiative focuses on reclaiming land from the Fushidhiggaru Falhu lagoon to expand Malé City, ultimately providing housing for 37,000 individuals. The administration has already commenced the reclamation work and is determined to accelerate the project's pace threefold.
Fast-Tracking Old Projects and Fulfilling Outer Islands' Promises
President Dr Muizzu's administration is diligently expediting housing projects initiated by the previous administration. This includes finalising the handover of land deeds in Hulhumalé and identifying land plots in Gulhifalhu. The administration has also enhanced the land-use plan and development master plan for Gulhifalhu, contracting China Machinery Engineering Corporation (CMEC) to develop essential roads and municipal infrastructure.
Acknowledging the housing challenges faced by residents in the outer islands, President Dr Muizzu committed in his electoral manifesto to developing 2,000 housing units in the northern atolls and an additional 2,000 in the southern atolls. The administration is actively seeking contractors for these projects, with several already secured.
Golden Era of Housing: Budget, Loans, and Digital Access
The 2025 state budget underscores the administration's unwavering commitment to housing, with an allocation of approximately USD 181.5 million dedicated to the sector. Of this, USD 116.7 million is designated for infrastructure development, while USD 64.8 million is set aside for financial facilities to support individuals seeking to develop their private properties. Applications for these financial facility loans are now open, providing a significant boost to the housing sector.
To simplify the application process for social housing schemes, the administration has introduced the 'Hiyaavahi' online portal. Additionally, efforts are underway to draft a new Maldives Land Act, which aims to address and resolve various land-related issues.
President Dr Muizzu has heralded 2025 as the dawn of a golden era for the country's housing sector. His ultimate vision is to ensure that by the end of his tenure, every resident has the opportunity to secure land or housing through social housing schemes. Through these comprehensive initiatives, President Dr Muizzu is charting a course for a more secure and sustainable future for the country's housing sector.