BML lays foundation stone for 300 housing units in Villingili
26 މާރިޗު 2026 | ބުރާސްފަތި 20:59Bank of Maldives (BML) has announced that this project involves the construction of three 17-story towers, with the entire development scheduled for completion by mid-2028.
From the groundbreaking ceremony of the 300 housing units being developed by BML in Villingili. | PSM | PSM
A subsidiary of the Bank of Maldives (BML) has officially laid the foundation stone for a project to develop 300 housing units in Villimale'.
The project, managed by BML Affordable Home Leasing Company in Vilimale', has been awarded to Rasheed Carpentry and Construction Private Limited (RCC). Under this project, three 17-story towers are scheduled to be constructed.
The towers are scheduled to be constructed on land provided free of charge by the Ministry of Construction and Infrastructure. Bank of Maldives (BML) stated that the project is expected to be completed by mid-2028.
Bank of Maldives' subsidiary company has decided to develop a total of 3,260 housing units.
The housing unit development projects are scheduled to be carried out across Vilimale' and both phases of Hulhumale'. Under this initiative, 300 housing units will be constructed in Vilimale', while 2,700 units are set to be developed across Phase 1 and Phase 2 of Hulhumale'.
BML Affordable Home Leasing Company is a subsidiary established by the Bank of Maldives with the objective of providing affordable housing solutions across the country.
