MVR 400 million in 2024 budget for housing in Fushidhiggaru falhu

In September's presidential election, President Elect Dr Mohamed Muizzu pledged to reclaim land in Fushidhiggaru Falhu in Kaafu Atoll to introduce a housing scheme to address housing difficulties in the Greater Male' Area. An amount of MVR 400 million has been allocated for this project in the 2024 budget.

When announcing Muizzu's housing manifesto, he has stated that 1,200 hectares of land will be reclaimed in Fushidhiggaru Falhu. He plans to provide upwards of 11,900 plots of land and 26,000 flats from this location.

The 2024 budget, which was compiled by the Finance Ministry in collaboration with the Transitional Committee of the President Elect's Office, shows that MVR 400 million has been allocated for land reclamation under this project.

Additionally, MVR 118 million has been budgeted for housing schemes, and MVR 286 million has been set aside for the social housing scheme being run by Fahi Dhiriulhun Corporation.

The 2024 budget also includes MVR 4.495 billion for construction of homes and community based services. This is broken down into MVR 2.459 billion as recurrent expenditure, and MVR 2.036 billion as capital expenditure.

Muizzu's manifesto, targeted for the next 20 years, promises to provide 65,000 plots of land or flats in Fushidhiggaru falhu, Giraavarufalhu, Gulhifalhu, Hulhumale' and Male'. He claims that once this is achieved, there will be no one in the Male' area facing housing difficulties.

The proposed budget for 2024 submitted by the Finance Ministry totals MVR 49.5 billion.