The Maldives government will commence a major social housing project during the early points of 2020.
According to President’s Office Spokesperson Ibrahim Hood during a press conference on Wednesday, the social housing project will involve construction of over 4,000 units.
Moreover, the project is initiated under the current administration’s pledge on delivering affordable housing and shelter for the public.
President’s Spokesperson had confirmed the preliminary assessments of the project were currently underway in order to analyze all necessary prerequisites before construction commences.
Though President’s Office on Wednesday had confirmed a housing project is set to commence in early 2020, further details regarding the matter were not disclosed to media.
According to the Government’s Strategic Action Plan – which encapsulates the current administration’s pledges and plans for a five-year period involves construction of 20,000 housing units by end of 2023 to provide affordable housing.
Moreover, over MVR1 billion will be issued through the National Affordable Housing Loan scheme.
Maldives government has already allocated MVR600 million in the upcoming year’s state budget.