President Dr. Mohamed Muizzu says the government expects a significant portion of its nationwide housing programme to reach major construction milestones by the middle of 2028, with several projects scheduled to be completed before the end of the administration’s term.
Speaking at a press conference on Monday, the President said housing remains one of the government’s highest priorities, noting that multiple projects are currently progressing simultaneously across the Maldives under different financing models.
He expressed confidence that tangible progress would become increasingly visible over the coming months, particularly in the physical construction of housing units.
According to President Muizzu, some housing projects in the islands are expected to be physically completed as early as next year, while many of the larger developments are targeted for substantial completion by mid-2028.
The President said the administration is also working with international partners to expand the country’s housing programme.
“Through our bilateral partnerships, including cooperation with countries such as India and China, we are working to launch additional housing projects. This year, the public will see further progress in the physical construction of flats,” he said.
The President also highlighted the role of the Bank of Maldives (BML) in financing several housing developments.
He said contracts have already been awarded for housing projects across 13 islands under BML financing arrangements, with advance payments now secured to allow construction work to begin. He added that physical work on BML-financed housing developments in Hulhumalé and Vilimalé, where foundation stones have already been laid, is expected to commence next month.
President Muizzu further noted that several housing projects inherited in a stalled state when his administration assumed office have since resumed, while additional projects are moving forward under newly introduced financing mechanisms.
Among the largest housing initiatives in the atolls is the planned development in Kulhudhuffushi City.
The President said the agreement process for the construction of 400 housing units in the city is expected to be finalized within the week, paving the way for implementation of one of the country’s biggest regional housing projects.
Reaffirming one of his key electoral pledges, President Muizzu said the government remains committed to delivering both land plots and housing opportunities for eligible citizens.
He added that efforts are continuing to expand access to affordable housing nationwide, expressing confidence that the ongoing projects will create greater opportunities for families seeking permanent homes.
Housing has remained one of the government’s flagship development priorities since President Muizzu took office, with projects currently underway across several islands to address longstanding shortages of residential land and affordable housing.
