The stalled housing project in Fuvahmulah City is set to resume following successful funding arrangements with the contractor, according to an announcement by Minister of Finance and Planning Moosa Zameer.
The announcement was made during President Dr Mohamed Muizzu's ongoing visit to Raa Atoll. The project, which had been on hold due to financial constraints, will deliver 400 housing units across five 11-story towers. Each tower will contain 80 apartments, with each 1,000-square-foot unit featuring three bedrooms, three bathrooms, a living room, kitchen, dining area, laundry, and storage room.
The project was awarded in 2023 to PT Citramas Heavy Industries in joint venture with FlexInc Pvt Ltd under a design-build contract. The government has now arranged payments for private companies owed money for the past six years, ensuring the resumption of construction.
Minister Zameer stated that payments are being processed systematically, with several other stalled projects across the Maldives set to resume. Some of these projects had been suspended for up to five years due to financial challenges.
In addition to the ongoing housing project, President Muizzu has pledged an additional 500 housing units for Fuvahmulah City, which will be financed through the current year’s budget and contractor funding.