Regulations that ease acquiring housing loans can greatly tackle Maldives’ shelter and congestion issues, Housing Minister Mohamed Muizzu has said.

In his speech to inaugurate the Maldives Financial Expo that the government is working to achieve this.

“By god’s grace and will, we will achieve this soon” the minister said.

He said that the government has planned more housing units to be built in the capital city and its urban extension, Hulhumalé. These new housing units will cater to high-and-middle-income families, Muizzu said.

As such, Muizzu revealed that the government will appoint companies to develop 7,000 more housing units before 2018.

With hopes to facilitating this in the private sector, Muizzu advocated banks and housing development corporations – such as construction and real estate companies – to work together.

The Maldives Financial Expo will be held from Thursday to Friday.