Minister of Housing, Dr. Abdulla Muththalib, stated tonight that housing under the government’s project to facilitate affordable home ownership will only be available to those who do not own personal housing and who qualify for the "Aailee Boahiyaavahikan" (Family housing) program.
An announcement was made on the 26th of February to find parties to build 1,000 flats in Hulhumalé specifically under this scheme to provide affordable housing. In that announcement, the opportunity for Maldivian companies interested in designing and constructing these "Affordable Home Ownership" housing units to submit proposals was opened until the 23rd of March.
At the ceremony held tonight to commence the physical work of the 1,224 affordable housing units being built by BML in Hulhumalé, Muththalib said that while a project to purchase housing at an affordable price has now been announced, it is a project conducted for those who qualify for family housing but do not have a home.
"Along with this, a project where housing can be purchased at an affordable price has now been announced. Every party who does not own personal housing and meets the requirements of the family housing program will have the opportunity opened to purchase a flat from the aforementioned place,"
The basic requirements for applying for flats and land under the Family Housing program are being a resident of Malé for 15 years and being a registered person of Malé.
Muththalib stated that BML's affordable housing project is also a project included within the social housing scheme. He said that the 3,260 housing units, consisting of three bedrooms, are places that will be issued under the "Boahiyaavahikan Enmenah" (Housing for All) program to those earning an income below MVR 60,000.
These places, issued under a rent-to-own model, are flats where one can live by paying rent and gain ownership after a certain period.
At the ceremony, Muththalib also highlighted the story shared by a young woman during President Dr. Mohamed Muizzu’s meeting with the residents of Henveiru on December 7 last year. Muththalib mentioned that the 22-year-old woman, who breathes with the help of an oxygen machine due to a medical condition, shared the difficulties of a large family having to live on a plot of 10 by 15 feet owned by her father.
The Minister stated that she shared how living in a room without ventilation worsened her medical condition and how much she needed state-provided housing to escape that situation.
The Minister said that this government’s state housing policy is built in a way that provides protection to people in situations like that. He said that other families are also living in Malé in similar conditions, and therefore, every policy has been formulated to prioritize those without housing.
"Specially in a way that prioritizes families living in vulnerable and difficult circumstances."
With the objective of arranging financing through the financial system for those wishing to purchase new homes in the Malé area, a special scheme titled "Inclusive National Affordable Housing Scheme" was decided to be introduced, and the regulations regarding it were publicized by the MMA last October.
Additionally, the MMA stated that an amount between 10 percent and 15 percent of the loan portfolio of all banks must be allocated to this scheme.
The deadline given to complete the affordable flats contracted to BML is mid-2028.
Under this project conducted by BML, 3,260 flats will be constructed in Villimalé, Hulhumalé 1, and Hulhumalé 3.
