Applications for housing equity grants to open in November

Applications for the Government’s Help to Build and Help to Buy schemes will open in November, offering eligible households up to MVR 200,000 for home construction equity and up to MVR 250,000 towards purchasing a home.

Mohamed Hilmy

24 October 2026, 11:54

Applications for the Government’s Help to Build and Help to Buy housing equity assistance schemes will open in November, Housing Minister Dr Abdulla Muththalib has announced.

The schemes are intended to help eligible households meet the upfront equity required to finance the construction or purchase of a home.

The Government has signed agreements with Bank of Maldives, Maldives Islamic Bank, Housing Development Finance Corporation and Maldives Finance and Leasing Company to implement the schemes.

Under Help to Build, eligible landowners can receive up to MVR 200,000 towards the equity requirement for a home construction loan.

For jointly owned family plots in Malé, multiple eligible owners may receive assistance, with total Government support capped at MVR 1 million per plot.

Under Help to Buy, eligible first-time homebuyers can receive up to MVR 250,000 in Government assistance towards the purchase of a home. Detailed eligibility criteria are expected to be set out in the scheme guidelines.

The assistance under both schemes will be provided as a grant rather than a separate loan. However, beneficiaries who sell a home supported under the programme within 20 years will be required to repay the Government assistance.

The exact date for applications to open in November has not yet been announced.

Applications for housing equity grants to open in November

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