President Dr. Mohamed Muizzu has stated that housing projects across the nation will commence within the year.

The President made the remarks during an interview to state media 'PSM'. He added that housing projects across the nation have been included in the budget and will be contracted to commence by August. Additionally, numerous housing projects will commence in Giraavaru Falhu and Rasmale' through various agreements signed with China, he said.

"We will commence housing projects across the nation through the agreements with China and also Exim bank finance and other lines of credit. In addition to that, we are also working on securing developer finance and establishing a development bank. As such, we will be able to commence housing projects within the year," President Dr. Muizzu said.

President Dr. Muizzu said that the delay in the projects has been due to how the budget was passed by the Parliament.

"The budget passed does not allow us to begin new projects. For example, if we require MVR 40 million for a 50 unit housing project, we need at least half of that included in the budget. Then we can pay and advance and commence projects by May or June. However, the budget only includes around MVR 5 million or 10 million for such projects," President Dr. Muizzu said.

The President added that there isn't enough in the budget to see through the ongoing housing projects, resulting in the projects being delayed until next year. He criticised the opposition for creating delays that would inconvenience the public.