Pres urges people to utilize govt’s housing opportunities

President Dr. Mohamed Muizzu on Thursday urged Maldivian citizens to utilized housing opportunities facilitated by his administration.

The Maldives faces a severe housing crisis, especially in the capital. Like previous administrations, President Muizzu’s administration had also come to power on the campaign promise to resolving the crisis.

Soon after he took office in 2023, President Muizzu said that vowed there would not be a single Maldivian citizen without housing by the end of his five-year term.

Addressing a rally in HA. Molhadhoo on Thursday morning, President Muizzu named providing access to housing as his biggest priority.

He said that he plans on providing people with housing whether it is by helping people build homes in their own land or by providing flats or row houses under public housing schemes.

“You, too, must make use of this opportunity,” he said.

He also highlighted on the soft loan scheme for housing launched in November 2024.

“Applications have opened for an Islamic finance scheme with an interest rate of five percent. People in islands such as these can take loans of up to MVR 1 million. To build a home on your own land. You do not need equity for this loan. This is a soft loan. The repayment terms are affordable,” he said.

President Muizzu said he hopes to begin issuing loans under the scheme around June or July.