Maldives Reaches for the Sky: 1000 New Homes in Towering Project

In a significant move to address housing needs, the Maldivian government has awarded a contract to China's Sino Hydro Corporation Limited for the construction of 1000 housing units in B. Eydhafushi. This ambitious project marks a major step in the government's commitment to providing affordable housing solutions for its citizens.

The agreement was signed at a ceremony held at the President's Office, with Dr. Abdullah Muttalib, Minister of Construction and Infrastructure, representing the government, and Pan Guangxu, Country Manager of Sino Hydro Corporation, signing on behalf of the Chinese company.

This contract follows a Memorandum of Understanding (MoU) signed on May 8, 2024, which involved collaboration between the local council, the Ministry of Housing, Land, and Urban Development. The project's technical aspects were carefully considered, including the design of the designated area in Eydhafushi, before the detailed proposal was submitted and negotiations were concluded.

The development plan includes the construction of 12 towers, each rising to an impressive 15 stories. These towers will house a total of 1108 apartments, comprising 772 two-bedroom units and 336 three-bedroom units. Dr. Muttalib explained that the decision to build vertically was influenced by Eydhafushi's status as a government-designated urban center and the need to optimize land use in the space-constrained island.

This project aligns with President Dr. Mohamed Muizzu's vision of ushering in a "golden age of homeownership" during his tenure. The government has prioritized housing in its first budget, allocating an unprecedented 1.5 billion rufiyaa specifically for housing construction initiatives. This marks the largest sum ever dedicated to housing in the country's history.

The focus on providing adequate housing reflects one of the current administration's key promises. As the Maldives continues to grow and urbanize, projects like the Eydhafushi development are crucial in meeting the increasing demand for modern, affordable housing options while addressing the unique challenges of island nation development.