The Ministry of Housing, Land and Urban Development has announced that all necessary preparations are underway to begin the physical construction of 4,000 housing units in Gulhifalhu within the current year.

Speaking on the project’s progress, State Minister for Housing, Land and Urban Development, Ahmed Nazim Mohamed, confirmed that active negotiations are being held with India’s Exim Bank to secure the required financing. He further emphasized the administration’s commitment to completing the project and handing over the keys to rightful owners by August 2028.

Addressing public concerns regarding project delays in the Greater Malé Region, State Minister Nazim explained that the initial stages involve extensive administrative processes. These include design approvals, site handovers, and obtaining various legal permits, which often require significant time before construction can be seen on-site.

The Minister also provided updates on other regional developments, noting that tower construction in Hulhumalé Phase 1 has already commenced, while designs for Phase 2 have been approved for mobilization. In addition to the 3,460 units being developed through the Bank of Maldives (BML), the Ministry is formulating plans for an additional 5,000 units.

Collectively, these initiatives are expected to bring the total number of housing units under development in the Malé area to 13,000, aiming to address the housing crisis for over 50,000 registered applicants.