BML begins construction of 300 housing units in Villimalé
The Villimalé development includes the construction of three towers, each with 17 floors.
The Bank of Maldives (BML) has commenced construction of 300 housing units in Villimalé, with a groundbreaking ceremony held on Thursday.
The project has been awarded to Rasheed Carpentry and Construction (RCC). The ceremony was attended by Minister of Housing, Land and Urban Development Dr Abdulla Muththalib, senior representatives from BML and RCC, and President Dr Mohamed Muizzu.
The Villimalé development includes the construction of three towers, each with 17 floors. Each unit will consist of a three-bedroom apartment with an area of 900 square feet.
BML stated that construction is also underway for 1,224 housing units in Hulhumalé, following the start of physical works last Saturday.
According to the bank, housing units in both Villimalé and Hulhumalé are scheduled for completion by mid-2028.
The projects are being implemented under the government’s housing policy through the BML Affordable Home Leasing Company. The units will be offered under a lease-to-own arrangement.
In total, 3,260 housing units are planned across Hulhumalé Phase 1, Hulhumalé Phase 2 and Villimalé under the programme.
