Bank of Maldives (BML) has announced that the development of 3,260 housing units in Hulhumalé and Villimalé, managed through its subsidiary company, is expected to be completed and handed over by mid-2028. This project, which follows a “lease-to-own” model, has already commenced physical works through contracts awarded to both local and international firms. Conducted in strict adherence to Islamic Shari’ah principles, this initiative is a key part of the government’s collaborative efforts under the Maldives Monetary Authority’s (MMA) affordable housing policy to provide accessible and cost-effective housing solutions for the public.
