President Muizzu Targets Substantial Completion of Housing Projects by Mid-2028

President Dr. Mohamed Muizzu has announced that a significant portion of the nation's housing developments will reach practical completion by mid-2028. Speaking at a press conference on Monday, the President emphasized his primary objective: ensuring these critical infrastructure projects are finalized within his current term. President Muizzu noted that previous administrations often struggled to complete developments initiated during their own mandates. To break this cycle, he confirmed that physical construction on select islands is already scheduled for completion by next year, with visible advancements in execution expected throughout 2024. The administration is leveraging strategic diplomatic ties to expand its housing portfolio. The President stated that collaborative efforts are currently underway with the governments of India and China to initiate additional development projects to meet the growing demand for residential space. Financing for initiatives across 13 islands has been secured through the Bank of Maldives. With advance disbursements now in place and construction crews ready, work is set to begin next month in Hulhumalé and Villimalé, where foundational work has already been laid. In a move to tackle historical delays, the government has resumed stalled developments by implementing new financial models. One of the most ambitious regional efforts is taking place in Kulhudhuffushi City, where agreements for 400 housing units are expected to be finalized this week. President Muizzu reaffirmed the government's commitment to fulfilling pledges regarding land distribution and homeownership, asserting that active work continues to unlock substantive housing opportunities for Maldivian citizens.