President Dr. Mohamed Muizzu has reassured the government's commitment to ensuring that every Maldivian has access to housing throughout the current presidential term.
Delivering this year’s Presidential Address, President Dr. Muizzu emphasised that addressing the housing crisis is one of the most poignant pledges he has made, acknowledging it as a longstanding issue. He stressed that housing is a fundamental human right and every citizen in need should be entitled to it.
Additionally, President Dr. Muizzu affirmed the government's dedication to resolving the housing crisis within his five-year term. He pledged to not only continue ongoing housing projects but also to enhance and expand them. Specifically, he highlighted the initiation of the Rasmale' development project, designed to provide a comprehensive solution to housing challenges in the Greater Male' Region. He outlined plans for land reclamation, land allocation, and flat construction projects in the current year to address housing shortages in both the Greater Male' Region and the country's islands. He also noted a reduction in the number of housing units built in atolls and cities as part of efforts to alleviate housing costs.
Furthermore, President Dr. Muizzu announced government support for housing, renovation, and flat purchases with financing available at an interest rate of less than 5%. He also said that a special portal will be established to maintain an up-to-date registry of individuals in need of land, reducing the complexities of repeated land applications.
Moreover, President Dr. Muizzu revealed plans for a 20-year national development plan to be formulated this year, envisioning sustained population growth and island development. He said that the long-term vision aims to grant legal authority to the national development plan, preventing disruptions to development projects with each change in government.