Govt Launches Construction of 1,190 Housing Units in Hulhumalé

The government held the groundbreaking ceremony and the commencement of physical work for the development of 1,190 housing units in Hulhumalé Phase II under the Bank of Maldives (BML) Affordable Housing Project.

The ceremony took place yesterday evening at the project site in Hulhumalé Phase II, with construction managed by Beijing Urban Construction Group (BUCG). Minister of Construction, Housing and Infrastructure Dr Abdulla Muththalib and Ambassador of the People’s Republic of China to the Maldives Kong Xianhua conducted the groundbreaking alongside senior officials from Bank of Maldives and BUCG.

President Dr Mohamed Muizzu officiated the ceremony and took a commemorative photograph following the event.

The BML Affordable Housing Project is implemented by BML Affordable Leasing Pvt Ltd under the government’s ‘Housing for All’ policy. Operating on a lease-to-own model, the project aims to provide a structured pathway to homeownership through housing developments in Hulhumalé Phases I and II, as well as Vilimalé, with a total of 3,260 units planned.

With this latest groundbreaking, four developments under the scheme have commenced physical works within March. These include 1,224 units in Hulhumalé Phase II by China Machinery Engineering Corporation, 300 units in Vilimalé by Rasheed Carpentry and Construction Private Limited, and 182 units in Hulhumalé Phase I by FW Construction Company Private Limited.

Work has now begun on 2,896 units, with the remaining 364 units scheduled to break ground on Tuesday night. The full 3,260-unit project is expected to reach practical completion by the end of August 2028.

At a press briefing held at the President’s Office earlier yesterday, President Muizzu said the current administration is, for the first time, positioned to ensure that housing projects initiated within its term will be completed and handed over within the same period.