President announces 200 housing units for Ihavandhoo

President Mohamed Muizzu on Wednesday announced an increase in the number of housing units planned for Ihavandhoo, bringing the total to 200.

 The announcement was made during his visit to the island, following the Ministry of Finance's earlier publication of recruitment notices for contractors to execute various housing projects across the country.

Initially, the government had allocated 100 housing units for Ihavandhoo as part of its nationwide housing initiative. However, after assessing the island's economic potential and the growing demand for housing, President Muizzu decided to double the allocation.

"I didn't announce a specific amount for Ihavandhoo during my campaign. However, this is an island with strong economic potential and a demand for housing. I believe a significant number of housing units should be built here," the President stated.

As part of the latest announcement, a total of 600 housing units have been allocated across five islands in Haa Alif Atoll:

The government has set aside MVR 1.5 billion for housing projects in the 2024 state budget. The projects will be implemented through different funding models, including full government financing and a 15% equity model, where contractors contribute a portion of the funding.