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Housing projects to begin July-end: President

President Dr. Mohamed Muizzu has announced that the government is set to commence housing projects by the end of July this year.

In an exclusive interview with PSM News, President Dr. Muizzu emphasised the imperative of providing housing for all citizens, expressing his vision to achieve the goal within five years by establishing over 65,000 housing units.

Additionally, President Dr. Muizzu addressed the delays in ongoing housing projects. He cited investigations by the Anti-Corruption Corporation (ACC) as a hindrance. He assured swift completion and distribution of flats once clearance is obtained, underscoring his commitment to prompt delivery.

Regarding new housing initiatives, President Dr. Muizzu acknowledged delays attributed to inadequate budget allocation by the previous administration. He criticised the omission of project funds in the current budget, describing it as an unprecedented departure from standard budgetary practice, causing a delay until the following year.

Furthermore, President Dr. Muizzu affirmed that the budget for housing projects will be included in the current fiscal year, ensuring the launch by the end of July. He highlighted funding from various sources, including agreements with China, Exim Bank, and developer finance, as integral to the endeavors.