President Dr Mohamed Muizzu has stated that the Administration’s newly introduced housing initiative will provide a sustainable, long-term solution to the housing crisis affecting both native Malé residents and long-term residents of the capital.

He made the remarks at the “Rayyithunnaa Eku Kuriah – Hafthaa 104” ceremony held to mark the Government’s second anniversary.

The President stated the first phase of the Rasmalé project will see the allocation of 15,000 land plots, with a total of 25,000 plots of 1,250 square feet planned across the full project. He added that plots have also been designated from reclaimed areas in Hulhumalé and Gulhifalhu, with further allocations to come from Giraavaru Falhu and Hulhumalé Phase III once ongoing reclamation works are completed.

Further addressing the housing shortage in Malé, President Dr Muizzu said the Administration’s immediate priority is completing the unfinished housing projects carried out by the previous administration. He said keys have already been issued to 84 recipients of the 4,000 Fahi Dhiriulhun Corporation (FDC) flats and reaffirmed the Government’s goal to hand over all remaining units before the upcoming month of Ramadan.

President Dr Muizzu also highlighted that the Bank of Maldives (BML) has begun work to develop 3,000 housing units, while an additional 4,500 units will be constructed with assistance from international partners. He reiterated that social housing developed under the rent-to-own model will have rents capped at MVR 10,000 for three-bedroom units.

Beyond the Greater Malé region, the President said agreements have been signed to build 825 housing units across 13 islands, with more projects included in next year’s budget. He assured that all island-level housing commitments will be achieved over the next three years.