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Maldives Real Estate News

Maldives real estate, reported from the ground: developments, developers, prices, rules, and the homes behind them.

Launches

Bayfancy finishes plastering, opens a materials showroom and reports the building 70 per cent complete

In August 2026 Bayfancy completed all plastering, finished air-conditioning, screeding and waterproofing on its upper floors, and opened a showroom of the materials going into the apartments. Its engineering report put overall progress at 70 per cent.

An apartment in July 2026, plastered and with ceiling framing going in. Photo: Bayfancy
An apartment in July 2026, plastered and with ceiling framing going in. Photo: Bayfancy

Summer 2026 at Bayfancy Residence was about finishing what is behind the walls.

May to July

  • 31 May: interior plastering was complete on twelve floors, and external plastering reached 80 per cent. Electrical and plumbing works were finished on levels 12 to 15.
  • 13 July: external plastering reached 100 per cent, and interior plastering was complete from the 3rd floor to the 18th. Air-conditioning units went up on levels 14 and 15, and tiling on level 15 reached 60 per cent.

Bayfancy's monthly engineering reports added the wider picture. In June, the structure and masonry were marked complete, with plastering at 95 per cent and the roof at 50 per cent; mechanical and electrical works stood at about 30 per cent, and decoration at 10 to 15 per cent. In July the report covered 21 daily site reports and 153 photographs, and recorded:

  • plastering at 98 per cent;
  • the roof at 80 per cent;
  • water supply and drainage at 60 per cent.

August: plastering done

The update of 19 August recorded:

  • All plastering: complete.
  • Levels 11 to 15: floor screeding, bathroom waterproofing and indoor air-conditioning complete.
  • Levels 13 to 15: ceilings at 90 per cent, tiling at 85 per cent, wall finishing at 80 per cent.
  • Electrical and drainage pipework: up to level 6.

The engineering report for August put overall progress at 70 per cent. The building was now in its last major stage: services, fit-out and finishes.

The materials showroom

On 20 August Bayfancy opened a materials showroom. Prospective buyers can see the finishes, fittings and systems going into the apartments rather than relying on renderings.

The developer has chosen mainly established Chinese manufacturers alongside some international names:

  • Mitsubishi lifts;
  • double-glazed low-emissivity glass from Xinyi;
  • Kinlong door and window hardware;
  • SKSHU (3TREES) exterior coatings;
  • Hikvision security systems;
  • Midea;
  • OPPLE lighting;
  • LESSO pipes;
  • CIFIAL bathroom fittings.

A showroom is a good place to settle what is in your contract. Note the brands and models shown, and ask that the purchase agreement names them or an equivalent standard.

Written for Binga's Bayfancy record on 18 October 2026 from the developer's progress reports and announcements at the time. Dated to the event it reports.

Ask the concierge about Bayfancy Residence

Sources and method

Prices are asking prices as listed through Binga unless marked achieved, and are dated. Developer descriptions are reported as the developer's own. Facts the desk could not verify are left out. This piece was last updated 18 October 2026. Spotted an error? Write to hello@binga.mv; corrections are noted at the foot of the piece.

Binga Properties is a real-estate concierge; it may represent homes and developments mentioned here.