Muizz's manifesto is being showcased at the ceremony held in Hulhumale Phase II. Dhauru Photo/ Hussain Sunain

Muizz's manifesto: Development bank for housing development loans

Muizz's manifesto includes a major promise to further develop Male as a pillar of national development.

21 August 2023

Opposition PPM-PNC presidential candidate Dr Mohamed Muizz on Sunday announced the establishment of a development bank to ensure that private entrepreneurs involved in social housing projects get funds at low interest rates.

The first chapter of the 19-chapter manifesto, which was launched at a rally in the second phase of Hulhumale, contains 39 promises on housing and urbanisation.

The PPM-PNC government's top priority will be to provide housing to the people, the mayor of Male has repeatedly said. He said there would be no citizen without housing under his rule.

Muizz, who served as housing minister in former President Abdulla Yameen's government, has promised to set up a special development bank to provide loans to developers and investors implementing housing projects, at low interest rates.


  • A new scheme will be introduced to provide concessional loans to individuals to start house construction and complete works that have not been carried out for various reasons

  • New home builders will be provided with housing loans at 5% interest rate

Muizz's manifesto includes a major promise to further develop Male region as a pillar of national development with a view to ensuring 65,000 houses for the next 20 years. In addition, seven medium-sized urban centres will be developed in the atolls.