President Dr. Mohamed Muizzu has shared his plans to make it easier for people to get affordable housing loans with low interest rates. He talked about this commitment during the election, and now he’s taking steps to make it happen.
The President mentioned these plans during an event to kick off the Fushidhiggaru Falhu reclamation project. They’re working on bringing in different housing loans through banks, and we can expect an official announcement about it soon.
President Muizzu promised that these loans would have an interest rate of less than five percent. He’s planning to give these loans to people who were already promised land in Gulhi Falhu, Giraavaru Falhu, and Hulhumale’ by the previous government. He also addressed concerns about delays in giving out land under the previous government’s landowners’ scheme. The President assured that the rights of those who were officially recognized would be protected, and the promises would be kept.
Talking about the Fushidhiggaru Falhu reclamation project, President Muizzu said they aim to create 1,153 hectares of new land from the lake in eight months. This project is supposed to help with the housing problems in Male’ city, and they’re making an additional 85 hectares from Gulhi Falhu and 50 hectares from Giraavaru Falhu available to people in Male’ and the atolls. The President highlighted how important this project is for dealing with the ongoing housing issues in Male’ city.
