The Ministry of Finance and Planning has announced a far-reaching nationwide housing initiative that will result in the construction of 12,040 residential units across 57 islands.

Regarded as one of the most significant housing endeavours in the nation’s history, the initiative underscores the Government’s steadfast commitment to improving living standards throughout the country.

In line with this objective, the 2025 national budget allocates MVR 2.8 billion to the housing sector. Of this sum, MVR 1.8 billion has been specifically earmarked for social housing developments.

The project, initiated at the behest of the Ministry of Construction, Housing and Infrastructure, will be implemented on a design-and-build basis. In this regard, the Ministry has issued official requirements for prospective contractors, marking the commencement of the selection phase.

The distribution of housing units will vary according to the specific needs and capacities of the respective islands. As per the Ministry’s announcement, fewer than 100 units will be developed in 20 islands, while 12 islands are each slated to receive 100 units. A further two islands will accommodate 150 units apiece, and nine islands are expected to receive 200 units each. Notably, 14 islands will see developments exceeding 200 units.

The procurement process will be conducted in accordance with International Competitive Bidding (ICB) procedures, in strict compliance with national financial regulations. All pertinent information, including technical specifications, evaluation criteria, and financing mechanisms, will be detailed in the prequalification documents provided to interested parties.

Bid openings are scheduled to take place between May 11 and 15, commencing daily at 10 a.m., as stipulated in the official Gazette. These notices further contain detailed submission requirements and procedural guidance for applicants.

The Government has described the housing initiative as a cornerstone of its overarching strategy to ensure that all citizens have access to adequate and affordable housing.