Hiyaavehi housing scheme reaches MVR 909 million in approved loans, says ministry

Housing loans worth a total of MVR 909 million have been approved under the Hiyaavehi Finance Scheme, according to the Ministry of Construction, Housing and Infrastructure.

In a post shared on social media, the ministry said the amount was cleared under the Hiyaavehi facility offered through the Bank of Maldives (BML), which provides housing construction loans at a five percent interest rate and on low-equity terms.

Key features of the Hiyaavehi scheme include:  

• Repayment period: Up to 25 years, including an 18‑month grace period  

• Equity: 20 percent, which can be contributed by the borrower or arranged through government support  

• Security: No mortgage required beyond the building site

ހިޔާވެހި ފައިނޭންސް ސްކީމް - އަމިއްލަ ގޯތީގައި ގެދޮރު ބިނާކުރުމަށް ދެވޭ ޕްރޮފިޓް ރޭޓު ކުޑަ އަދި އިކުއިޓީ ކުޑަ ލޯނު؛ މިހާތަނަށް 909 މިލިއަން ރުފިޔާގެ ލޯނު ވަނީ އެޕްރޫވް ކުރެވިފައި pic.twitter.com/kJjlEYYwPI

— Ministry of Construction, Housing & Infrastructure (@MoCImv) December 30, 2025

Those who have applied for Hiyaavehi financing can check the status of their applications through the Gedhoruverin Portal.

President Dr. Mohamed Muizzu has previously said MVR 1 billion will be allocated annually for the Hiyaavehi scheme, reiterating his pledge to ensure housing access for everyone over the age of 18.