The government is preparing to launch additional financing programs this November to provide financial assistance to individuals facing challenges in building or purchasing homes. Under this initiative, the government will assist those who own land but are unable to commence construction by providing the equity required to secure bank loans. Furthermore, efforts are underway in collaboration with four banks to provide equity assistance for those purchasing flats through housing projects in various islands, as well as under the affordable home ownership models in Hulhumalé, Addu City, and Fuvahmulah. This is a key government policy aimed at eliminating financial barriers to home construction and ensuring housing security for all citizens.
