Maldives real estate, reported from the ground: developments, developers, prices, rules, and the homes behind them.
topic
Everything the desk has published under “off plan”.
Rules & rates
The Pension Office's housing scheme covers homes bought to live in, sold on the open market, including flats handed over when construction finishes. What that means for buyers in Greater Malé's new developments, and what it leaves out.
Rules & rates
HDFC finances flats only in projects it has approved. Its list has 15, from Bayfancy and Kandoofaa Residence to The Rise, the Rainbow projects, Centreal and SJ Creek. The full list, and how a developer gets on it.
Rules & rates
HDFC reports the progress of every development it finances to the capital market regulator. The June 2026 report: Bayfancy 93%, Kandoofa Residence 86%, The Rise 74%, Centreal 61%, Rain Pearl 45%, Rain Palm 37%, Kandoofa Ecoplex 13%. Several completion dates have moved by more than a year.
Rules & rates
MIB finances flats under construction only in projects it has approved. Six are on its list today: Renaatus Javaahiru, RainPalm and RainPearl Residence, Centreal, The Creek View and SJ Creek Residences. How the list has changed since 2023, and what it means for buyers.
Rules & rates
With MIB, a buyer of an off-plan flat pays only part of the monthly payment during construction, in proportion to what the bank has paid the developer so far. Completed homes get up to three months' grace. How it works and what to ask.
Rules & rates
MFLC's forms allow funds to go directly to a developer and offer a grace period of up to 12 months, but it has no published list of approved developments and charges 1% a year on money not yet drawn. Seven questions to settle before you book.
Rules & rates
To finance a flat that is still being built, Bank of Maldives must have approved the development. Its published list names more than thirty projects, from Bayfancy and Blue Lagoon in Hulhumalé Phase 2 to Solitaire, Aqua Vita and Kandoofaa. Here is the list, and what approval does and does not mean.
Rules & rates
Bank of Maldives lets buyers defer full repayments for up to 24 months. Pay only the lease payments, or nothing at all with the payments added later. On a MVR 3.56 million financing the choice is worth thousands a month for the next 23 years. How each option works.
