Chief Government Spokesperson Mohamed Hussain Shareef has said the Government has made the decision to develop an additional 710 affordable housing units under the Bank of Maldives (BML) Affordable Housing Project.

Speaking on the latest edition of "Presser with the Spox", Shareef said BML is overseeing the development of affordable housing projects in Hulhumalé and Vilimalé on behalf of the Government.

He said contractors have been appointed for all but one of the projects, while the remaining project has completed the design stage and is ready to move into construction.

The Spokesperson stated that BML has already been tasked with developing 3,260 housing units, with agreements for a further 710 units now being finalised. Once completed, the programme will comprise nearly 4,000 housing units.

The 3,260 units form part of the Government's social housing programme and are intended for households with a monthly income below MVR 60,000. The flats will be allocated under a rent-to-own scheme, allowing beneficiaries to acquire ownership after paying rent over a specified period.

BML estimates that all housing units under the programme will be completed by mid-2028.

The developments are planned for Vilimalé and Hulhumalé Phases I and III. They include 300 housing units in Vilimalé and 2,700 units in Hulhumalé Phase I. Foundation work has already begun on a separate 1,224-unit development in Hulhumalé Phase III, as well as the 300-unit project in Vilimalé.