President Muizzu Plans to Set Aside MVR 1 Billion in 2026 Budget to Resolve Housing Crisis

In a crucial effort to address a significant national concern, President Dr. Mohamed Muizzu has revealed a groundbreaking MVR 1 billion housing initiative scheduled to begin next year, underscoring his administration’s dedication to providing affordable housing options for every Maldivian.

During his visit to 13 islands in Noonu Atoll, President Muizzu stated at a rally in Manadhoo that tackling the housing crisis is among the government’s key national priorities. He highlighted that although significant investments have been made this year, the magnitude of the issue requires ongoing, gradual initiatives over several years.

The President restated his campaign promise to guarantee respectable housing for each citizen, recognizing that although launching all projects in one year is unfeasible, substantial progress has already been made. Significantly, Manadhoo has emerged as an early recipient, with 50 housing units under construction. Another 50 units are scheduled for building next year, with comparable programs to be implemented across the country in stages.

“This is a government that fulfills its promises,” President Muizzu emphasized, showcasing the administration's innovative housing loan initiative ‘Hiyavahi’, which provides lasting support for future homeowners. Through the program, loans are offered with an unusually low interest rate of 5 percent and an accommodating 25-year repayment term, enhancing the accessibility of homeownership like never before.

President Muizzu’s assertive strategy indicates a new phase in national progress, converting pledges into deeds and establishing the groundwork for a future where every Maldivian can experience the stability of a lasting residence.