FDC offers rent subsidy incentives for Fahi Dhiriulhun flats

Fahi Dhiriulhun Corporation (FDC) has announced a rent subsidy scheme for the 4,000 housing units developed in Hulhumalé Phase II, incentivizing timely payments from recipients.

The flats, constructed by two Indian firms under the government’s social housing initiative, are now in the agreement-signing phase. FDC stated that keys will be handed over once the initial down payment is made.

According to the company, tenants will be eligible for a 100% subsidy on rent and maintenance fees if payments are made before the 10th of each month.

The subsidy percentage will decrease as follows for later payments:

- 75% subsidy if paid by the 16th

- 50% subsidy if paid by the 21st

- 25% subsidy if paid by the 26th

- No subsidy if payment is made after the 26th

FDC reserves the right to issue a 30-day notice if rent and maintenance fees are not paid as per the agreement. However, the statement did not specify the consequences of non-payment following the notice period.

Apartment Pricing & Details:

- Two-bedroom apartments: MVR 7,000 monthly rent + MVR 1,000 maintenance fee

Security deposit: MVR 15,000 (payable in full)

- Three-bedroom apartments: MVR 9,500 monthly rent + MVR 1,500 maintenance fee

Security deposit: MVR 25,000 (payable in full)

FDC confirmed that all units will be handed over with installed fans, windows, and doors, as well as tiling, painting, toilets, and sinks completed.

The government’s housing initiative aims to provide affordable, livable homes to thousands of families, and this rent subsidy structure is designed to encourage financial discipline while easing the cost burden for residents.