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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

Walls, roof and waterproofing done: Bayfancy Residence moves into its finishing phase

By late February 2026 all masonry at Bayfancy Residence was complete, the roof and external waterproofing were finished and the show apartment was 70 per cent built. Plastering then moved through the building, with the outside walls at 68 per cent by April.

The roof, its waterproofing complete, in February 2026. Photo: Bayfancy
The roof, its waterproofing complete, in February 2026. Photo: Bayfancy

In January 2026 Bayfancy began a monthly series of site reports, "Journey to Handover". The first two episodes take the building from bare frame to the start of its finishes.

January: the last walls

The update of 8 January showed masonry:

  • finished on the 15th floor;
  • 80 per cent done on the 16th;
  • half done on the 17th and 18th.

Electrical and plumbing first-fix was complete on the 3rd floor, and plastering on the 8th. The fit-out contractor started on site the same month.

February: a closed building

By 26 February:

  • All masonry: complete.
  • Roofing and external waterproofing: complete.
  • Internal plastering: complete on the 15th floor, half done on the 14th.
  • External plastering: 30 per cent.
  • Show apartment: 70 per cent.

With the walls built and the roof sealed, interior trades could work through the building floor by floor.

April: plaster climbing

The 20 April update showed:

  • external wall plastering at 68 per cent;
  • interior plaster complete on the 11th floor and half done on the 3rd;
  • cable ducts and water pipes installed on the upper floors, with switch and socket boxes going in on the 3rd and 4th.

Reading the reports

Monthly percentages by trade and floor are more useful to a buyer than general reassurances. They let you see the order of work and where the bottlenecks are. We track each report as it is published.

Written for Binga's Bayfancy record on 18 October 2026 from the developer's progress reports 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.