Government Plans To Allocate MVR 1.5 Billion On State Budget For 2022 For Housing Projects In Islands

Speaking at a campaigning event, Minster of Planning, Housing and Infrastructure notes that the administration pledges to allocate MVR 1.5 billion on the state budget for next year on constructing housing units in inhabited islands within the atolls.

In this regard, the government hopes to build either row houses and flats in selected islands for which the Ministry is currently undertaking work to identify the number of units needed and preparing the documents along with sketching the drawings for the units. The Minister states that the government will be prepared to tender the work of the project by the beginning of the upcoming year whereas those that will be contracted for the work will be local companies.

Furthermore, as Housing Development Finance Corporation (HDFC) will be opening applications for housing loans this April, the Minister noted that those living within atolls will be able to apply for housing loans in order to build their homes or expand their existing housing status.

Prior to these statements by the Minister, President Ibrahim Mohamed Solih has also stated that his administration would divert special focus on housing projects for next year.