A substantial percentage of the practical construction on numerous housing developments will be completed by the middle of 2028, President Dr Mohamed Muizzu announced during a press conference on Monday. With a multitude of initiatives underway, the president stated his primary objective is the absolute completion of these projects within the current term.
Significant advancements in execution will be evident this year, President Muizzu added. Noting no previous administration finished a development initiated within its own term, President Muizzu confirmed physical construction on select islands is slated for completion next year.
"Through established diplomatic relationships with various nations, such as the governments of India and China, collaborative efforts are currently underway to initiate additional development projects," the president stated. "Regarding the practical construction of residential flats, further tangible progress will be witnessed throughout the course of this year."
Housing initiatives spanning 13 islands were awarded through Bank of Maldives financing. Advance disbursements secured, crews are prepared to commence construction. Under this structure, work for developments in Hulhumalé and Villimalé, where foundational work is laid, begins next month.
Having resumed stalled developments, the administration is advancing projects via new financial models. The most expansive atoll endeavour is in Kulhudhuffushi City, where finalising agreements for 400 housing units concludes this week. Assuring pledges regarding land distribution and homeownership will be fully realised, President Muizzu confirmed active work continues to unlock substantive opportunities.