The government on Thursday awarded contracts to private companies for the development of 725 housing units across 12 islands, in a significant move aimed at tackling the national housing shortage.
This initiative forms a core part of the incumbent administration's broader goal to ensure housing security for all citizens, spearheaded by President Dr Mohamed Muizzu’s vision to develop 65,000 housing units over the next 20 years.
The awarded projects vary in scale, with contracts ranging from 25 to 100 units per island, addressing acute shortages in both smaller communities and larger population centres.
The contracts were distributed among several key developers, demonstrating a wide privatisation of the construction effort. Noteworthy projects awarded on Thursday include Glatt Investments, tasked with developing 75 units in Eydhafushi, Baa Atoll, and Altech Maldives, which secured multiple projects totaling 175 units in Meedhoo, Dhaalu Atoll (25 units), Ukulhas, Alifu Alifu Atoll (50 units), and Naifaru, Lhaviyani Atoll (100 units).
Other major allocations went to White Links and Alaf Pvt Ltd, both of whom are contracted to build 100 housing units in Funadhoo and Gan in Laamu Atoll, respectively. Companies like Oxro, MIMS Construction, and Wavelength were also contracted to develop 50 units each in various locations including Mulah, Meemu Atoll and Madaveli, Gaafu Dhaalu Atoll.
These projects underscore the government's commitment to finding swift solutions to housing shortages, which have seen various projects designed across 57 islands nationwide. Beyond social housing, the administration has also facilitated the opportunity for citizens to obtain bank loans at concessional interest rates for private home construction.
During Thursday’s ceremony, Heavy Force Pvt Ltd was awarded the contract for the development of the crucial harbour of Rathafandhoo, Gaafu Dhaalu Atoll, signaling concurrent efforts to enhance national connectivity and economic infrastructure alongside housing security.