Reducing rent, down payment for Fahi flats being considered

President Dr Mohamed Muizzu has said he will consider easing the rent and down payment requirements for flats under the previous government’s 4,000 social housing project in Hulhumale’.

The President made the remarks in response to concerns raised by residents, including TikTok personality Aminath Iraasha (Faro Sis), who publicly shared the financial difficulties faced by recipients of Fahi flats.

Iraasha, a resident of the Galolhu district, said she was allocated a three-bedroom flat, which requires a down payment of MVR 25,000. She said her financial situation did not allow her to easily pay the amount, but added that she did not want to register as financially disadvantaged to seek assistance.

In October, Zakat House paid the down payment for 14 recipients who were unable to afford it, disbursing a total of MVR 340,000 from the Zakat Fund.

Speaking about the monthly costs, Iraasha said that in addition to trying to pay the down payment, recipients are required to pay MVR 10,500 in monthly rent, which she described as the highest rent charged for social housing in Hulhumale’. She also said that an additional MVR 2,500 would be charged after the 11th of this month.

She said the average monthly income of ordinary citizens ranges between MVR 12,000 and MVR 13,000, making it difficult for families to meet housing costs while also covering electricity, water bills, and daily living expenses.

“How are we expected to live after paying MVR 10,500 for social housing, along with electricity, water and other necessities?” she said, appealing to the President to waive the MVR 25,000 down payment and reduce the rent.

Responding to the concerns, President Muizzu said the issue of rent and down payments for the 4,000 flats would be taken very seriously, and that the government is working toward a positive solution.

“The issue of the MVR 25,000 down payment is something I will take very seriously. We will look at whether the down payment can be deducted or what kind of changes are feasible,” he said. “After reviewing it, I will bring the best possible solution to address these concerns.”

The President also said that work is underway to ensure residents can move into the flats before the start of the new academic year. He said all towers will be supplied with water and electricity before the end of this month, with the handover of flats expected to be completed next week.

The 32 towers built by Fahi Dhiriulhun Corporation in Hulhumale’ Phase 2 include two-bedroom and three-bedroom units.

The required down payment is MVR 15,000 for two-bedroom flats and MVR 25,000 for three-bedroom flats. Keys are handed over once the down payment is paid.