MVR 750 million has been included in the budget for a housing equity scheme.
The allocation is intended to support measures that assist people in obtaining homes, whether through private land development or flats. The government has highlighted housing as a priority area.
President Dr Mohamed Muizzu has previously pointed to financial support for building on private land and acquiring flats as a major policy shift. The budget figure provides a concrete funding commitment for the coming year.
Further details on eligibility, the structure of the scheme and implementation timelines are expected in subsequent announcements. The sum represents a substantial portion of housing-related spending.
The move is part of ongoing efforts to address housing needs across the country.
