President Dr Mohamed Muizzu has announced that 10-storey buildings will be permitted in both Hulhumalé Phase I and Hulhumalé Phase II, subject to specific development conditions.

Speaking to residents of Hulhumalé Phase I, the President said that developments constructed up to 10 storeys will be required to include mandatory parking facilities on the lower floor, with one floor designated for non-residential use.

During the address, President Dr Muizzu also announced that the Government has decided to grant a 10 per cent discount on the amount payable for public land plots allocated in Hulhumalé Phase I.

Under existing regulations, owners of public land plots are required to purchase the land from the State at a fixed price before it can be transferred or sold to a third party. Some plots in Hulhumalé Phase I were previously allocated through a lottery system based on a points framework and were priced below prevailing market rates to support residential use.

The President said that for plot holders who have already paid a significant portion of the amount due, the discount will be adjusted against the remaining balance.