A 400-unit social housing project, funded by the Saudi Fund for Development (SFD), was officially inaugurated today in the second phase of Hulhumalé.
The ceremony was attended by SFD CEO Sultan bin Abdulrahman Al-Murshid and Maldives' Finance Minister Moosa Zameer, who jointly launched the project.
The initiative is backed by a $25 million loan from the Saudi Fund and aims to construct 400 housing units as part of the government’s broader housing policy to improve access to affordable homes for Maldivian families.
According to the Ministry of Finance, the project will significantly contribute to providing safe and adequate shelter, aligning with the state’s commitment to address the housing needs of its citizens.
Established in 1974, the Saudi Fund for Development offers financial support to development initiatives in developing nations, strengthening global partnerships and socio-economic growth.
The ceremony was attended by SFD CEO Sultan bin Abdulrahman Al-Murshid and Maldives' Finance Minister Moosa Zameer, who jointly launched the project.
The initiative is backed by a $25 million loan from the Saudi Fund and aims to construct 400 housing units as part of the government’s broader housing policy to improve access to affordable homes for Maldivian families.
According to the Ministry of Finance, the project will significantly contribute to providing safe and adequate shelter, aligning with the state’s commitment to address the housing needs of its citizens.
Established in 1974, the Saudi Fund for Development offers financial support to development initiatives in developing nations, strengthening global partnerships and socio-economic growth.
