Economy & Markets
Housing Ministry estimates MVR 58.8 billion is needed to complete its projects

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Minister Muththalib answers questions from members of the Majlis.
Photograph: Adhadhu
Minister of Infrastructure, Housing and Urban Development Dr Abdulla Muththalib gave the estimate in a written reply to a question from South Hulhumalé MP Dr Ahmed Shamheed, Adhadhu reported on 19 October 2026. The ministry's letter puts the cost of completing its ongoing projects at MVR 58,831,473,267. PSM News (opens in a new tab) reported the figure as about USD 3.82 billion.
The minister said the 2026 budget does not set fixed amounts for individual projects, because the government is using a programme-based budget and the Ministry of Finance and Public Enterprises releases funds according to implementation plans. Five airport projects are under way: Gan in Addu City, Makunudhoo in Haa Dhaalu, Magoodhoo in Faafu, Alifushi in Raa, and Isdhoo Kalaidhoo in Laamu. The Isdhoo Kalaidhoo project has not yet been contracted, PSM reported, and the minister said he does not expect the projects to need funds beyond their estimated completion costs.
Opposition members had criticised the 2026 budget for not showing project-level costs. At the Ahaa Forum on 18 October, the Finance Minister said 1,273 projects are under way and that payment systems are in place to release project funds promptly, according to Adhadhu.




