President Muizzu Inspects Progress of 4,000-Flat Project in Hulhumalé Phase II

President Dr Mohamed Muizzu has conducted an on-site inspection of the 4,000-flat housing project underway in Hulhumalé Phase II on Thursday.

During his visit, the President was briefed on the progress of the development, which has seen significant momentum in recent months. With construction now nearing completion, the Government aims to initiate occupancy before the end of the year. Officials confirmed the project is on track to be completed in record time, aligning with the Administration’s broader commitment to resolve the national housing crisis.

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President Muizzu reiterated his assurance that all eligible applicants—those meeting criteria and free from fraud or regulatory violations—will receive allocations under a transparent and fair process.

“This project is just the beginning,” said President Muizzu. “We are working to implement the most comprehensive housing programme in Maldivian history. Every citizen aged 18 and above will have access to homeownership.”

The Administration’s wider housing strategy includes extensive land reclamation for residential use in the Malé region and across outer islands. In parallel, the Government has launched the largest-ever apartment construction programme in the atolls.

To boost accessibility and affordability, housing loans with interest rates below 5%—fully compliant with Islamic finance principles—are set to be introduced later this year. This initiative is designed to broaden homeownership nationwide.

In addition, the Government is implementing substantial payment relief options for recipients of social housing and making infrastructure upgrades in existing housing areas. Notably, residents of the Hiyaa flats in Hulhumalé will soon benefit from the installation of two additional elevators in each residential tower, improving daily accessibility and convenience.