President Dr. Mohamed Muizzu has stated that MVR 1 billion will be allocated in next year's budget for housing projects.

During his visit to Noonu Atoll, President Muizzu met with the residents of Maafaru today and said that housing is one of the most important issues for all citizens, and it's a priority for Maafaru as well. He announced that a housing project for Maafaru has been decided to start next year.

"God willing, within 2026, we will allocate one billion rufiyaa for housing in the new policy initiatives of the budget for next year as well. This island will be included among the islands where new housing projects will begin," the President said.

Discussing some development plans for Maafaru, the President said that they have decided to add four classrooms as part of the ongoing school upgrade work. He also mentioned that road construction work on the island will begin towards the end of this year.

The President promised to establish a futsal ground on the island and assured further development of the existing football ground.

This year's budget has a special allocation for housing. A total of MVR 2.5 billion has been included in this year's budget, with MVR 1.5 billion for home ownership loan schemes and housing construction.

In his speech at the recent Republic Day ceremony, the President said that one billion rufiyaa will be allocated for the housing scheme in every year's budget. He added that regardless of population size, loans will be available according to set principles and levels. Despite allocating one billion rufiyaa, he stated that loans worth two billion rufiyaa could be issued under this scheme.