Ministry of National Planning, Housing, and Infrastructure has revealed that over 2,000 housing units will be built this year.
The remarks were made by a team from the planning ministry while providing details at the Parliament of the Maldives on the current housing projects being conducted in the country. The team stated the projects are currently at different stages of completion but that 2,159 housing units will be built this year. They added that 2,429 housing units will be built in the second and third quarters of 2023 and 3,361 housing units will be built in 2024.
Furthermore, the planning ministry stated that 60 housing projects are being conducted across the country, which consists of 14,528 housing units including 720 council housing units, 2,405 atoll housing units, 6,370 affordable housing units, and 4,116 mid-range luxury housing units.
Additionally, the planning ministry stated the newly announced 16 housing projects to be conducted under the Public Sector Investment Programme (PSIP) are currently at the tendering stage, and that the projects consist of a total of 1,700 housing units. The ministry also stated that 1,687 housing units are being built under a contractor finance policy, which includes 727 mid-range housing units, and 960 luxury range housing units.