President Dr. Mohamed Muizzu has revealed that construction will begin on many housing projects in the Maldives and that Ras Malé will be reclaimed this year.

He said this during his second presidential address delivered at the inaugural sitting of the People’s Majlis, held on Thursday morning.

In his presidential address, President Muizzu said that housing is one of the basic rights of Maldivian citizens and is the top priority issue to be resolved among the difficulties and pains of living.

Noting that the housing problem is most severe in Malé, President Muizzu said that Malé is one of the most densely populated capital cities in the world. He said that the government will carry out extensive work to solve the housing issue for the people of Malé and long-term residents of Malé through Malé, Villimalé, Hulhumalé, Gulhifalhu, Giraavaru Falhu, Uthuru Thila Falhu and Fushidhiggaru Falhu.

President Muizzu said that work is underway to reclaim Ras Malé to address the housing shortage faced by residents of the Greater Malé Region. Despite multiple challenges, he said the government's goal is to complete land reclamation this year and establish basic services, build roads and begin construction work on housing projects in 2026.

Referring to Gulhifalhu, President Muizzu said that Gulhifalhu is a place connected to the hopes of many Malé residents, and that work is underway to find funding and a contractor to reclaim an additional 85 hectares there. President Muizzu said that work on reclaiming Giraavaru will also begin very soon, and that the land being reclaimed from Hulhumalé lagoon will be completed before July this year. He also said that land registries will be handed over to those who have been allocated plots in Gulhifalhu, Giraavaru lagoon and the reclaimed land from Hulhumalé lagoon as soon as the reclamation is completed.

Along with this, President Muizzu said that work is underway to start a project to build 4,000 social housing units in Gulhifalhu this year with concessional financing from India. He also said that new social housing projects will begin this year in Malé, Villimalé and Hulhumalé as well.

In addition to providing housing through housing unit construction projects, the President noted that MVR one billion has been allocated in the 2025 budget to provide Sharia-compliant loans at five percent interest for construction on private land plots.

President Muizzu said the loans can be used to build a completely new house, complete an unfinished house that has been started, or renovate an existing house. He said this is a huge opportunity open to citizens of all islands across the country to spend on their first home.

While President Muizzu has stated that construction will begin on many housing projects in the Maldives and that Ras Malé will be reclaimed this year, work on this project first began on 18 December 2023. However, the work was halted shortly after it started.

It has been decided to reclaim a large area of 1,153 hectares from Fushidhiggaru Lagoon, which is being developed under the name of Ras Malé.