Government awards 1,000 affordable housing units in Hulhumale' to Maldivian-owned companies

The Housing Ministry has awarded five local companies the contract to construct 1,000 affordable housing units in Hulhumale'.

The ministry said the project has been awarded entirely to 100 percent Maldivian-owned companies.

The selected developers are:

• SJ Construction Pvt Ltd  

• A joint venture between One Reality Pvt Ltd and Maldives Medtech Pvt Ltd  

• Amin Construction Pvt Ltd  

• Rasheed Carpentry and Construction Pvt Ltd  

• A joint venture comprising Flexx Link Pvt Ltd, OXRO Pvt Ltd, Solex Pvt Ltd and VA Builds Pvt Ltd

The ministry said the housing units will be developed in the third phase of Hulhumale'. Each developer has been awarded one plot under the project, with a total construction period of 30 months.

This is the first project launched under President Dr Mohamed Muizzu’s Housing for All policy, which aims to provide affordable bank-mortgage housing options for middle-income families.

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— Ministry of Infrastructure, Housing and Urban Dev. (@MIHUDmv) July 16, 2026

All flats under the project will be sold to eligible beneficiaries who submitted forms to the government’s Family Housing programme.

The ministry said the maximum selling price of a two-bedroom flat under the project is MVR 1.8 million, while the maximum selling price of a three-bedroom flat is MVR 2.3 million.

The government introduced the Housing for All policy in mid-November and opened applications for 7,900 flats and 15,000 plots in January. BML Affordable Home Leasing Pvt Ltd, a subsidiary of Bank of Maldives, was awarded the contract to build 3,000 flats under the programme.

President Dr Muizzu has pledged to ensure housing for every Maldivian above the age of 18.