Muizzu Allocates MVR 400 Million in 2024 Budget for Housing in Fushidhiggaru Falhu

President-Elect Dr. Mohamed Muizzu’s electoral commitment to alleviate housing challenges in the Greater Male’ Area, a substantial portion of MVR 400 million has been allocated in the 2024 budget for housing initiatives in Fushidhiggaru Falhu

The focus of this allocation revolves around the reclamation of approximately 1,200 hectares of land in Fushidhiggaru Falhu, situated in Kaafu Atoll. Muizzu envisions leveraging this reclaimed area to provide over 11,900 plots of land and 26,000 flats to mitigate the housing shortage in the region.

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This financial allocation, part of the 2024 budget crafted through collaboration between the Finance Ministry and the Transitional Committee of the President-Elect’s Office, specifically earmarks MVR 400 million for land reclamation in this ambitious housing project.

Notably, the 2024 budget incorporates a substantial sum of MVR 4.495 billion dedicated to the construction of residences and community-based services. 

This allocation is distributed as MVR 2.459 billion for recurrent expenditure and MVR 2.036 billion for capital expenditure, signifying a comprehensive approach to address housing challenges and associated community needs.

Muizzu’s manifesto spans a two-decade timeline and promises the delivery of 65,000 plots of land or flats in key areas, including Fushidhiggaru Falhu, Giraavarufalhu, Gulhifalhu, Hulhumale’, and Male’. 

The proposed 2024 budget, submitted by the Finance Ministry, presents a total budget of MVR 49.5 billion, signifying the scale and scope of the financial planning for the coming year.