Two years into President Dr Mohamed Muizzu’s Administration, housing remains one of the most pressing national priorities, with the Government pursuing extensive initiatives to deliver a permanent, nationwide solution.

The President has repeatedly affirmed that every Maldivian aged 18 and above should have the opportunity to own a “first home,”.

In the Greater Malé region, the Administration accelerated work on 4,000 Fahi Dhiriulhun Corporation (FDC) flats under the Gedhoruveriya Scheme in Hulhumalé Phase II. President Dr Muizzu has personally visited the project sites to inspect progress.

At the same time, the Government is advancing major land reclamation and city-building initiatives to solve long-term demand. The flagship Rasmalé project is being designed as an eco-friendly city, and on Republic Day this year, the President announced that 15,000 housing plots will be allotted from Rasmalé. Meanwhile, additional reclamation works are underway in Gulhifalhu, Giraavarufalhu and Hulhumalé Phase III.

Alongside land allocation, the Government is investing in the construction of new housing units. The President confirmed that agreements for 3,000 housing units will be signed in the coming days, and a further 4,000 units will be developed under India’s Line of Credit, bringing the planned total to 7,000 units when all projects begin.

Beyond the capital region, new housing projects are being launched across multiple islands, supported by reclamation works where required. This strategy aims to ensure that Maldivians can build lives and futures within their home communities, reducing population pressure in the Greater Malé region and supporting more balanced demographic and economic growth.

To make home ownership more accessible, the Government has also introduced financial facilitation measures. An agreement has been signed with the Bank of Maldives (BML) under the Hiyaavahi financing scheme to support home construction and completion, easing the financial burden for aspiring homeowners.

In addition, Maldives Monetary Authority (MMA) has launched a new housing finance fund under the Inclusive National Affordable Housing Scheme to provide long-term, affordable and Shariah-compliant financing, for Greater Malé residents. Banks will contribute 10 to 15 per cent to the fund, with facilities offered through two financing types and a minimum 25-year tenure. The scheme will operate for five years to make home ownership more accessible.

As the Administration marks two years in office, housing remains a central policy pillar, with commitments focused on expanding supply, reducing inequality, and permanently reshaping the country’s settlement patterns for future generations.