President Muizzu Inspects Rapid Progress on 4,000 Flats in Hulhumalé

President Dr Mohamed Muizzu has visited the development site of 4,000 flats in Hulhumalé Phase II, a key housing initiative by the Government. The inspection comes as part of efforts to solve the country’s long-standing housing shortage.

The President was briefed on the project’s status, which has seen strong progress over the last 18 months. Once stalled, the development picked up pace after Dr Muizzu directed faster housing delivery. Most of the construction is now close to completion, with plans to start occupancy later this year.

He assured that flats will be allocated to eligible applicants who meet the required criteria, with no tolerance for fraud or non-compliance.
The project is part of a larger housing strategy that includes land reclamation in the Malé region and outer islands, and the launch of the biggest apartment construction drive in the atolls.

To further support citizens, the Government plans to introduce Islamic finance-compliant housing loans at under 5% interest, aimed at boosting homeownership for Maldivians aged 18 and above.
Additionally, payment relief has been introduced for existing social housing, and new lifts are being installed in Hiyaa towers to improve accessibility and comfort.