Physical work on 1,224 affordable housing units to be built by BML in Hulhumalé has commenced tonight.
At the foundation-laying ceremony graced by President Dr. Mohamed Muizzu, work began on the 1,224 units being constructed under BML Affordable Home Leasing, a subsidiary company created by BML to achieve the objectives set under the Inclusive National Affordable Housing framework established by the Maldives Monetary Authority (MMA).
The project has been awarded to China Machinery Engineering Corporation (CMEC).
Speaking at the ceremony held in Hulhumalé, BML CEO Mohamed Shareef stated that CMEC, the company entrusted with this project to provide quality housing at affordable rates, is an experienced firm in such projects, and he expressed no doubt that the work would be completed on schedule.
According to Shareef, the project has been handed over with the requirement to be completed and handed over by mid-2028. He stated that the housing units would be of high quality and finished on time.
Shareef noted that while the National Housing Affordability and Accessibility project was inaugurated in October last year, the fact that work has commenced at such a fast pace under this project is due to the guidance of President Muizzu. He remarked that the rapid transformation of the government's vision into action demonstrates the ease brought about by strong leadership.
Under this overall project conducted by BML, a total of 3,260 flats will be constructed in Villimalé, Hulhumalé 1, and Hulhumalé 3.
Some of the flats under this project have been contracted to Beijing Urban Construction Group (BUCG) of China, which is carrying out several large projects in the Maldives. Some Maldivian companies have also been contracted to build flats.
BUCG was tasked with building 1,117 housing units on four plots of land in Hulhumalé Zone 2, covering a total area of 13,475 square feet. CMEC—which completed the Vinares flats and is currently working on infrastructure projects in Gulhifalhu and Hulhumalé 2—will construct the 1,224 housing units.
To provide housing units at an affordable price, BML has decided, with the assistance of the Ministry of Housing, to construct the units and open them to the public under a lease-to-own model (ownership upon completion of rent payments).
