Tuesday, 27 October 2026 · Malé Search Newsletter Send us your launch WhatsApp the desk
Maldives Real Estate News

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

Rules & rates

Islamic or conventional? HDFC Amna for a flat

HDFC's Islamic window, Amna, finances flats through a diminishing partnership at 10% to 11%, about the same as its conventional loan. The differences are in the details: takaful, a lock-in fee with a rebate, a property worth at least 125% of the financing, and late charges paid to charity.

By Published 1 min read

Illustration from Binga's stock library: an open kitchen with a carved timber screen and island. Not the building in this story.
Illustration from Binga's stock library: an open kitchen with a carved timber screen and island. Not the building in this story.

HDFC Amna is the Islamic window of Housing Development Finance Corporation (HDFC), running since 2012. It is not a separate company. Its funds are kept apart, and a Shari'ah committee oversees it.

For buying a flat

Musharaka Muthanaqisa, a diminishing partnership:

  • HDFC Amna and you co-own the flat.
  • You pay rent on its share and buy that share in instalments.
  • When the share reaches zero, the flat is yours.
Amna purchaseConventional purchase
Rate10% to 11% profit (10.42% with pension)10.42% to 12.25% interest
TermUp to 25 yearsUp to 25 years
Equity20%20%
LimitUp to MVR 10 millionUp to MVR 10 million
CoverBuilding takaful, 100% of valueInsurance
Early settlementUp to MVR 500,000, with a rebate2% of balance
Late payment1% a year, given to charity10% of overdue amount

Amna's extra conditions

  • The property must be worth at least 125% of the financing, about 80% loan-to-value.
  • Income counts up to age 65.
  • Co-owners must apply or consent. At least one co-applicant must be linked to the property by inheritance or marriage, or an independent guarantor is needed.

Which to choose

On rate, the two are close. Choose Amna if you want Shari'ah-compliant financing. Choose conventional if you expect to settle early and want the simpler 2% fee. In either case, get the written figures.

As published by HDFC on 18 October 2026. Rates and terms change; confirm them with HDFC before you commit. General information, not financial advice.

Compare lenders with the concierge

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. 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.

Rules & rates

I'm over 50. Can I still use my pension to buy a home?

Yes, until you turn 60, but only half your balance, and the loan must be paid off before you turn 65. That shortens the term and raises the payment: on MVR 2.4 million at 11%, about MVR 33,100 a month over ten years against MVR 23,500 over 25.

· 2 min read

Rules & rates

The five lenders that accept your pension, and the five steps to use it

Only five institutions can take your pension savings as a home loan deposit: Bank of Maldives, Maldives Islamic Bank, HDFC, Mauritius Commercial Bank and Commercial Bank of Maldives. How the request moves between you, the lender and the Pension Office, step by step.

· 2 min read

Rules & rates

How much of my pension can I put towards a flat?

It depends on your age and your balance: all of it up to 35, 80% from 36 to 49, half from 50 to 60. Worked examples at each age, and how that compares with the 10% or 20% deposit lenders ask for on a MVR 3 million flat.

· 2 min read