Minister of National Planning, Housing and Infrastructure Mohamed Aslam has stated USD 100 million will be allocated in next year’s State Budget for housing projects across the atolls.
Speaking at an event held as part of Maldivian Democratic Party (MDP)’s campaign for the upcoming local council elections, Housing Minister Aslam said housing projects worth USD 100 million will be conducted across the atolls next year, including the construction of rowhouses and flats. The minister said preparations are already underway for the projects, noting tender documents and drawings are currently being prepared. He said the projects will be contracted to local contractors, with the projects to be conducted under direct financing of the government rather than developer financing.
Speaking further, Minister Aslam revealed preparations are also ongoing to open a housing loan scheme worth USD 11 million. The minister said the loans will be disbursed to construct homes in currently owned plots and to add buildings in existing plots. He said the scheme will be launched during the second quarter of this year.
Delivering the Presidential Address at the Parliament of the Maldives last month, President Ibrahim Mohamed Solih had also detailed some of the efforts undertaken by the government to resolve housing issues in the Maldives. As such, the President highlighted the ongoing projects to construct 400 housing units in Naifaru, Thulhaadhoo, Thimarafushi and Kolhufushi. He also revealed another project will be launched before the end of this year to construct 5,000 housing units in the Greater Male’ Region.