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Agreements signed to provide housing grants

Oct 19, 2026, 8:54 AM
BML signs agreement for its grant program: Up to one million Rufiyaa to be awarded in funding -- Photo: X

BML signs agreement for its grant program: Up to one million Rufiyaa to be awarded in funding -- Photo: X

Agreements have been signed for the "Help to Build, Help to Buy" program, an initiative designed to provide grants to individuals seeking to purchase or construct homes.

The Housing Ministry signed the equity grant program agreements with the Bank of Maldives (BML), Maldives Islamic Bank (MIB), Housing Development Finance Corporation (HDFC), and Maldives Finance Leasing Company (MFLC).

Under the program, the government will provide grants of up to MVR 1 million for those wishing to construct homes in Male'. For projects in other islands, grants of up to MVR 200,000 will be available.

The program also facilitates grants of up to MVR 250,000 for the purchase of apartments valued at MVR 1.5 million. Full technical details of the scheme are yet to be released.

President Mohamed Muizzu first announced the government's decision to provide these grants to homeowners and buyers during a program aired by Public Service Media (PSM) on Saturday.

Bank of MaldivesMaldives Islamic BankHousing Development Finance Corporation (HDFC)President Mohamed MuizzuMaleHelp to Build, Help to Buy

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