Over 3,100 Luxury and Semi-Luxury Apartments Under Development Across Hulhumalé

The Housing Development Corporation (HDC) is overseeing the construction of more than 3,100 semi-luxury and luxury apartments across Hulhumalé, according to Managing Director Ali Zuhair. Speaking on the "Ahaashey Bunaanan" program broadcast by Public Service Media (PSM), Zuhair detailed the expansion of real estate projects in both Hulhumalé Phase I and Phase II. To date, 12,831 semi-luxury and luxury units have been developed through 172 separate projects. Of the 3,163 units currently under construction, 1,763 are categorized as semi-luxury and 1,400 as luxury apartments, with work progressing at various stages of completion. Beyond high-end developments, the HDC is prioritizing affordable and social housing to meet diverse residency needs. Work has commenced on a specialized affordable housing project in Hulhumalé, a joint venture between the Bank of Maldives (BML), the Ministry of Infrastructure, Housing and Urban Development, and the HDC. Zuhair further assured that additional social housing projects are in the pipeline. The corporation has already identified and allocated the necessary land to the relevant parties, ensuring a steady stream of inclusive housing options for the community in the coming years. The HDC’s mandate for residential growth extends beyond the artificial islands of Hulhumalé to the wider atolls. The corporation has been entrusted with the development of approximately 5,000 housing units across various islands in the Maldives. Significant progress is already visible in the north, where construction has begun on 400 housing units in Haa Dhaalu Kulhudhuffushi. For the remaining island projects, the HDC is currently finalizing architectural drawings and securing the necessary financing to begin physical construction.