Ground has been broken for 300 housing units in Vilimalé under the Bank of Maldives (BML) Affordable Housing Project.

The ceremony was held in Vilimalé on Thursday night, attended by President Dr Mohamed Muizzu and several Cabinet ministers.

The project, awarded to Rasheed Carpentry and Construction Pvt Ltd, comprises three towers, each rising 17 storeys. The Government has described the initiative as a vital development, particularly in response to the growing population of Vilimalé.

Speaking at the ceremony, BML CEO Mohamed Shareef stated that the project is expected to be completed by 2028. The development falls under the Inclusive National Affordable Housing Programme initiated by the Maldives Monetary Authority (MMA). 

Minister of Construction, Housing and Infrastructure, Dr Abdulla Muththalib, commended President Dr Muizzu for prioritising the housing crisis and delivering tangible solutions. He added that the Vilimalé housing project will be developed in an ecofriendly manner that preserves the greenery in Vilimalé.

Housing developments under this initiative will be carried out in Vilimalé as well as Hulhumalé Phases I and II. Of the total planned units, 300 will be developed in Vilimalé, while 2,700 units are allocated across Hulhumalé.