The Housing Development Corporation (HDC) has waived two years of rent for Hiyaa flats.

In a letter sent to flat owners last week, HDC Managing Director Ali Zuhair provided details on how President Dr. Mohamed Muizzu’s pledge to reimburse the finishing costs incurred by the public for Hiyaa flats would be implemented.

The letter stated that starting this coming Wednesday, any unpaid rent will be deducted from the MVR 200,000 discount allocated to each flat for finishing works.

HDC noted that after deducting those amounts, if there is no remaining unpaid rent, residents will not have to pay the monthly rent of MVR 5,300 until the total discount value is exhausted. Consequently, rent for Hiyaa flats will only need to be paid starting from May 1, 2028.

However, the management fee must still be paid during this period.

The letter further clarified that once the discount value is fully utilized, the monthly rent for the flats will be MVR 5,300 until the total price of the flat is paid off, effective from this Wednesday.

With the previous changes brought to the monthly rent by this government, the monthly rent for each Hiyaa tower apartment was MVR 3,984. Including the MVR 1,000 maintenance fee, the total monthly payment to HDC was MVR 4,984.

HDC is currently making amendments to the agreements in light of these changes.

"We inform you that work is underway to bring the necessary changes to this Corporation's online portal following this adjustment. Therefore, we also share that after the end of March, the balance amount as of the end of that month will be assessed, and those details will be shared through the portal," the letter stated.

Although the rent for Hiyaa flats, built during former President Abdulla Yameen’s administration, was lowered, the issue of non-payment of these fees remains significant.

The government has also waived fines accumulated up until last December for the non-payment of Hiyaa flat rent.