Practical works on 1,224 housing units under the BML Affordable Housing Project have commenced.

A groundbreaking ceremony for the project was held in Hulhumalé Phase III, attended by President Dr Mohamed Muizzu.

The units form part of an affordable housing initiative implemented through BML’s subsidiary, BML Affordable Home Leasing Company. The project is being developed by China Machinery Engineering Corporation (CMEC).

The project is part of efforts to meet targets set under the Maldives Monetary Authority’s Inclusive National Affordable Housing framework. BML stated that construction is expected to be completed by mid-2028.

CMEC, the main contractor for the project, has previously undertaken several major developments in the Maldives, including the Vinares housing project. The company is also currently involved in infrastructure works in Gulhifalhu and Hulhumalé Phase II.

BML stated that the project is expected to help address the growing demand for housing in the Maldives while providing a practical pathway to homeownership.