MVR 1.5 billion will be budgeted in 2022 for housing development in atolls

President Ibrahim Mohamed Solih speaking at the MDP event held to finish the Local Council Elections campaign | Photo: Lucas

Malé, Maldives – President of Maldives, Ibrahim Mohamed Solih has revealed on Thursday that the budget for the year 2022’s regional housing development projects have been decided as MVR 1.5 billion.

While speaking at the concluding ceremony of “Rahvehi Fathis” campaign at AA. Rasdhoo, President Solih revealed it to the citizens that the budget for regional housing development project has been earmarked at MVR 1.5 billion.

While talking about the current plans of the government, President Solih mentioned that his government is planning to initiate a special loan scheme for individuals who require assistance to reinitiate or expedite the housing developments that are halted due to financial difficulties. This loan would help alleviate the housing struggles that the residents who live in the atolls of Maldives are facing at present.

For the housing development projects planned for the capital Male’ area, President noted that to fully actualize decentralization in the Maldives,  the current limitations of housing in Malé City would need to be addressed. President Solih informed that at present, there are 5000 housing units, in different stages of construction, allotted for registered residents of Malé City. He said that the government plans to increase this number to 13,000 housing units.