Housing Minister Abdulla Muththalib has announced that the government is considering allowing land plots allocated in Hulhumale' Phase 2 under the previous administration's "Binveriya"(Land Owner) scheme to be utilized for commercial purposes.
Speaking at a ceremony held to mark the completion of elevator installations in the Hiyaa towers, Muththalib said that since the Housing Development Corporation (HDC) lacks sufficient land to provide essential services to the residents of Hulhumale', it is necessary to facilitate commercial opportunities on the residential plots issued by the former government.
"We must enable these privately-held plots to be developed commercially to benefit the owners and ensure services are accessible to the residents here. Currently, these lands are heavily restricted, with permissions granted only for specific types of residential development," he said.
He explained that the government’s vision is to allow private owners to invest in their allocated land to establish facilities such as preschools, clinics, or shopping complexes, thereby creating a pathway for profitability.
"The government believes that whether it is preschools, clinics, shopping complexes, or other business ventures, private owners should have the opportunity to invest and provide these essential services to the community living in Hulhumale' Phase 2," Muththalib added.
Noting that land in Male' is already utilized for various commercial activities, the minister emphasized that similar flexibility should be extended to Hulhumale'. He noted that this shift would benefit the residents of Phase 2 and streamline the overall development of the area.
Under the "Binveriya" scheme initiated by the previous Maldivian Democratic Party (MDP) administration, 1,409 land plots were allocated in Hulhumale' Phase 2, and 699 plots in Hulhumale' Phase 3. Most of these plots have already been handed over to the recipients.
While the government moves to permit non-residential use of these plots, facilitating the means to build on them remains a key presidential pledge. To fulfill this, the "Hiyaavehi" financing scheme was introduced; however, the current criteria of the scheme have resulted in only a limited number of applicants qualifying for assistance.
