Minister of Infranstructure, Housing and Urban Development Dr Abdulla Muththalib has said the real estate sector has the potential to become a key driver of economic growth in the Maldives, in line with the vision of President Dr Mohamed Muizzu.

In an article published on LinkedIn, the Minister described the Maldives as a globally recognised brand, noting its natural beauty, uniqueness and quality of life. He said that while tourism has already demonstrated the country’s appeal, there is untapped potential for investors seeking opportunities beyond the tourism sector.

Dr Muththalib stated that the President’s vision aims to unlock this potential by developing a strong real estate sector that can deliver wider economic benefits. He explained that such development would not only involve construction, but also create employment opportunities across sectors including finance, law, design, property management and marketing.

He added that a well-developed real estate industry would support the growth of new urban areas and planned communities, while also contributing to economic diversification beyond tourism and fisheries.

Addressing housing challenges, the Minister said expanding the real estate sector is essential to resolving one of the country’s most pressing issues. He noted that increased private sector participation would help meet housing demand, reducing the burden currently placed on the Government.

Dr Muththalib emphasised that the benefits of a growing real estate sector would extend across different income groups, providing opportunities for both affordable housing and higher-end developments.

He also highlighted the importance of strong foundations for the sector, including effective land management, accurate ownership records, proper land-use planning, reliable data, and clear regulatory frameworks.

The Minister said the recent decision to expand the mandate of his ministry is aimed at bringing land, housing, real estate, buildings and urban development under a single framework to improve coordination and efficiency.

He added that the broader goal of the President’s policy is to position the Maldives as a trusted destination for investment, creating sustainable economic growth, employment and long-term opportunities.