President Dr Mohamed Muizzu has stated that social development and national security can only be ensured through a permanent solution to the country’s housing crisis, while delivering the Presidential Address. 

He emphasised that resolving housing challenges remains a top priority of the Administration, highlighting ongoing efforts under the Housing for All (Boahiyaavahikan Enmenah) policy. This includes the Family Housing (Aailee Boahiyaavahikan) programme, which offers multiple pathways to home ownership - ranging from real estate-based solutions for higher-income families, mortgage-supported options for middle-income households, and social housing for families unable to purchase homes independently. The President added that land reclamation at Rasmalé, expected to yield 15,000 plots, is targeted for completion by April.

The President also highlighted the impact of the Hiyaavehi Financing Scheme and efforts to increase banking sector participation in housing provision. He noted that under the Inclusive National Affordable Housing framework introduced by the Maldives Monetary Authority, the equity requirement for Bank of Maldives housing loans has been reduced from 20 per cent to 5 per cent. In addition, homeowners can now access construction and renovation loans of up to MVR 3 million without pledging additional assets as security.

He further announced that amendments to the Maldives Pension Act have been proposed to allow pension funds to be used as collateral for housing-related purposes, while deliberations on the proposed Housing Bill are currently under way at committee stage in Parliament.