Big Step for Affordable Housing as BML Takes Charge of New 3,000-Unit Project

The Government of Maldives has handed over land to Bank of Maldives for the development of 3,000 housing units under the National Housing Affordability and Accessibility Project. The project will construct 300 units in Vilimalé and 2,700 in Hulhumalé Phases I and II, using a lease-to-own model. BML established a subsidiary, BML Affordable Home Leasing Pvt Ltd, to carry out the project. The initiative was approved by the Cabinet on 5 October. BML CEO Mohamed Shareef said the scheme requires participation from all banks and will make housing more affordable.

The Government of Maldives has handed over land to Bank of Maldives for the development of 3,000 housing units under the National Housing Affordability and Accessibility Project. The project will construct 300 units in Vilimalé and 2,700 in Hulhumalé Phases I and II, using a lease-to-own model. BML established a subsidiary, BML Affordable Home Leasing Pvt Ltd, to carry out the project. The initiative was approved by the Cabinet on 5 October. BML CEO Mohamed Shareef said the scheme requires participation from all banks and will make housing more affordable.

The Government of Maldives has handed over land to Bank of Maldives for the development of 3,000 housing units under the National Housing Affordability and Accessibility Project. The project will construct 300 units in Vilimalé and 2,700 in Hulhumalé Phases I and II, using a lease-to-own model. BML established a subsidiary, BML Affordable Home Leasing Pvt Ltd, to carry out the project. The initiative was approved by the Cabinet on 5 October. BML CEO Mohamed Shareef said the scheme requires participation from all banks and will make housing more affordable.

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