MVR 600 million allocated for construction of 20,000 housing units

MVR 600 million has been allocated in the proposed national budget for 2020 for the construction of 20,000 housing units.

While presenting the proposed budget at the parliament on Monday, Finance Minister said that MVR 359 million has been allocated in the budget for ongoing projects with an additional MVR 600 million allocated for housing projects scheduled to commence in 2020.

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“The housing units program intends to address the current housing issues faced by the country’s citizens. The fund required for the large scale project of 20,000 housing units as under the government’s Strategic Action Plan (SAP) has been allocated in next year’s budget.” said the Minister.

The Ministry has yet to disclose the islands in which the housing project will be carried out but it has been reported that the locations have not been finalized.

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