Govt proposes over MVR 3 billion for housing in 2025 budget
The government plans to provide housing loans totalling between MVR 2-4 billion, available at a 5% interest rate.
Government’s proposed budget for 2025, presented by finance minister Moosa Zameer on Thursday, includes an allocation of over MVR 3 billion for housing projects.
The budget, totalling MVR 56.6 billion, was introduced in parliament, with a focus on addressing housing needs across the country.
The proposed housing projects include a government-implemented initiative with an estimated budget of MVR 1.5 billion. These projects are planned to reach various villages throughout the Maldives, supporting local development goals.
Additionally, the government plans to provide housing loans totalling between MVR 2-4 billion, available at a 5% interest rate, in line with its commitment to facilitate accessible housing finance.
Construction minister Dr Abdulla Muththalib had earlier indicated that a substantial portion of next year’s budget would be earmarked for housing projects. He noted that the government intends to prioritise promises aimed at broad public benefit as well as projects that address specific needs within individual communities.
"The president has consistently highlighted housing as a critical priority, following national security," Muththalib stated. "Next year’s budget will be structured with a clear focus on housing projects."
The housing initiatives will include projects funded directly by the budget, alongside projects supported by foreign donors and loan arrangements from international sources. Collectively, these allocations signify a concentrated effort by the government to address the growing demand for housing infrastructure across the Maldives.
