MVR 15 million spent on housing projects

According to the information they publicized, expenditure for public housing under PSIP projects have seen a reduction of 71 percent compared to last year. Housing projects saw an expenditure of MVR 53 million last year compared to this year's time frame.

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Amaan Udhares flats -- Photo: Fayaz Moosa | Mihaaru

Umar Shan Shafeeq

2026-04-24 15:33:53

Statistics from the Ministry of Finance and Public Enterprises have shown that the state has spent MVR 15 million on housing projects from their 2026 budget.

According to the information they publicized, expenditure for public housing under PSIP projects have seen a reduction of 71 percent compared to last year. Housing projects saw an expenditure of MVR 53 million last year compared to this year's time frame.

The 2026 budget allocated the most amount of funding for housing projects within PSIP projects. The budget has allocated MVR 1 billion to be spent on such projects.

The 2026 budget has allocated MVR 8.3 billion for PSIP projects, of which MVR 1.1 billion has been spent.

MVR 19 million has been spent from the 2026 budget as of yet. MVR 9 billion from the budget has been spent on remuneration and operation of offices.