President Dr. Mohamed Muizzu has announced a 20% reduction in the rent for all social housing units in Hulhumale' Phase I.
Speaking at a gathering in Hulhumale', President Dr. Muizzu emphasised the pivotal role of housing as the foundation of Hulhumale', expressing the administration's commitment to making housing in the area more affordable and alleviating fines imposed on housing units.
Additionally, President Dr. Muizzu disclosed that the reduction on fines for housing units in Hulhumale' Phase I would be effective starting from February. He said that the decision was made to support small and medium enterprises (SMEs) within the country's economy. He also said that the government will manage the 20% reduction in rent for these units.
Furthermore, President Dr. Muizzu announced fines to be waived for flats in all social housing projects initiated by previous administrations. He said that the Housing Development Corporation (HDC) will implement user-friendly payment methods to facilitate the settlement of outstanding rent. He urged the public to comply with the provided concessions and settle outstanding rent in accordance with the eased conditions.