Rent and deposit reductions for Fahi Flats publicized

Minister of Construction, Housing and Infrastructure Dr. Abdulla Muththalib has publicized the rent and security deposit reduction changes regarding the 4,000 flats built by Fahi Dhiriulhun Corporation (FDC) in Hulhumale' Phase 2.

President Dr. Mohamed Muizzu had announced the rent and security deposit reduction changes during last night's community meeting with Hulhumale' Phase 2 residents. The President came to this decision as public complaints regarding the high rent and security deposit rates for said flats when comparing them to other social schemes.

The project began during the previous administration and was awarded to two Indian companies, with two-room flats and three-room flats having been constructed. Along with the maintenance fee, the two-room flats were to be rented for MVR 8,000 per month with a down payment of MVR 15,000. Along with the maintenance fee MVR 11,500, the three-room flats were to be rented for MVR 10,500 per month with a down payment of MVR 25,000.

However, with the reduction changes that have been announced today by the government, Minister Muththalib announced that along with the maintenance fee, the two-room flats are to be rented for MVR 7,000 per month, with a security deposit of MVR 6,000.

Minister Muththalib also announced that along with the maintenance fee, the three-room flats are to be rented for MVR 10,000 per month, with a security deposit of MVR 8,500.

Some people are currently living in said flats as the changes have been announced. Even though they have been paying rent and security deposit charges as per the figures before the changes, it is unclear as to whether they would see this change be implemented this month.

During last night's community meeting with Hulhumale' residents, President Muizzu said that the new agreements will be made with these changes in mind.

The current government has greatly reduced the Hiyaa Flat rent rates in the past as well.

Setting aside MVR 200,000 for each flat for the finishing touches of the Hiyaa Flats is a presidential pledge of President Muizzu's.