Progress on BML housing project as first 182 apartments enter concrete phase

The foundation work for 182 affordable housing units being developed by the national bank Bank of Maldives (BML) under the government's Housing for All policy has been completed, with concrete works now underway.

BML said its affordable home leasing subsidiary is currently carrying out foundation and concrete works for 182 of the 364 apartments being developed during the first phase of the project in Hulhumale'. The housing development is being undertaken by Amin Construction.

The foundation stone for the project was laid in late March last year. Under the development, two residential towers comprising three-bedroom apartments are being constructed in Hulhumale' Phase I. BML had previously stated that each apartment would measure approximately 900 square feet.

The apartments form part of a broader affordable housing initiative spearheaded by BML Affordable Home Leasing Company, which plans to develop a total of 3,260 housing units. The bank expects the project to be completed by mid-2028.

In addition to the ongoing development, BML has also announced plans to construct a further 540 apartments under its affordable housing programme. The additional units were revealed by BML CEO Mohamed Shareef during the foundation-laying ceremony for the 364 apartments being developed by Amin Construction.