Govt opens housing project to build own houses
Individuals who wish to build homes on their own land will now receive government support.
The government has announced that its nationwide housing project is open to all individuals who wish to build homes on their private land in designated islands.
This initiative, introduced by President Mohamed Muizzu, marks a shift in the government’s approach to housing development, offering more flexibility and opportunities for homeownership.
President Muizzu first revealed this initiative during his visit to Kudahuvadhoo, where he announced the construction of 500 housing units, on Monday.
As part of this project, individuals who own private land will have the opportunity to build homes with government assistance. The president later extended this offer to all islands included in the housing project during a rally in Dhaalu Meedhoo.
Previously, the government had planned to construct only flats in separate areas. However, under this revised policy:
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Individuals who wish to build homes on their own land will now receive government support.
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Flats will still be constructed, but only after determining the number of people who prefer private home construction.
President Muizzu urged island councils to submit information on those interested in building homes on their own land to the housing ministry before the end of Ramadan. Each eligible applicant will receive assistance to build a three-room house.
"A lot of people will want to build houses on their own land. It is difficult for many people to go to the bank and get a loan," the President stated, acknowledging financial constraints faced by homeowners.
To address this challenge, he assured that individuals who do not wish to take a traditional bank loan can opt for financing under the Islamic finance scheme.
