Minister of Construction, Housing and Infrastructure Abdulla Muththalib has said that practical work on approximately 12,000 housing units will begin this year. The first project under this initiative is set to commence this month, the minister added.
Speaking on a PSM News Programme, the minister revealed details of the government’s progress on the development of flats under its housing initiative. The minister noted that the government faced significant challenges in acquiring foreign loans due to the state of the economy it inherited from the previous administration. This was a key reason for tapping into the Maldives’ banking sector for assistance, he revealed.
The administration had transferred key parcels of land to the Bank of Maldives (BML) to facilitate the development of 3,000 affordable housing units. This number later increased to 3,272 housing units. The minister said this initiative comprises 312 housing units in Villimale’, 546 housing units in Hulhumale Phase 1 and 2414 housing units in Hulhumale Phase 2.
To support the policy’s implementation, the government transferred land to BML at no cost. This arrangement enables the bank to price the new units comparably to those offered under existing government housing schemes, the minister highlighted.
The minister said that this is the first initiative under the government’s housing policy for which the practical work is about to begin. The minister further added that the government aims to handover the flats under this initiative to residents within two years.
The minister also shed light on a government housing programme being undertaken through an Indian line of Credit, for which the government has earmarked the development of 4,000 housing units in Gulhifalhu. While the progress on this initiative is currently in the documentation phase, the minister provided an optimistic timeline of mid this year for practical work to begin on the development of these housing units as well.
“The government aims to start the practical work on 12,000 housing units this year. This is a rate that no other administration has undertaken. We will prioritise 3-bedroom housing units. The government is working tirelessly on these housing initiatives” Minister Muththalib stated.
In addition to this, the minister pointed out that the housing initiative undertaken via interest free loan from China is also progressing. A further 400 housing units i8s slated for development in Hulhumale’ through a secured Saudi investment as well, the minister noted.
To conclude, the government aims to finish all the housing projects undertaken with foreign assistance by the end of this administration’s term.