The Ministry of Infrastructure, Housing and Urban Development shifted one of three planned 17-storey residential towers to a site near the State Electric Company facility in Villimalé after officials determined the original blueprint could destroy the indigenous flora, known locally as Funa trees. The two remaining structures will proceed as planned directly opposite Muhyiddin School, ministry representatives said, emphasising a firm commitment to advancing the 300-unit project without felling the large trees native to the area.
Viewed by the government as a critical intervention for accommodating Villimalé’s expanding population, the development on rent-free land is slated for completion by mid-2028, according to statements from the Bank of Maldives, which laid the initial foundation this past February. Physical construction was contracted to Rasheed Carpentry and Construction Private Limited.
The Villimalé towers represent a segment of a broader national strategy to mitigate housing shortages. Operating under the Maldives Monetary Authority’s Inclusive National Affordable Housing framework, a dedicated Bank of Maldives subsidiary, the BML Affordable Home Leasing Company, is spearheading the comprehensive establishment of 3,260 housing units. This mandate supplements the Villimalé project by delivering a further 2,700 residential units distributed across Phase I and Phase II of Hulhumalé.