The government has reduced the rent of social housing units in Hulhumale' Phase I by 20%, as part of President Dr. Mohamed Muizzu's roadmap for his first 14 weeks in office.
HDC stated that the installment payment has been reduced by 20% and that the discount does not include the maintenance fees.
President Muizzu has also made arrangements for tenants to pay outstanding rent in installments. In addition, the President has decided to reduce the rent for Hiyaa flats to compensate tenants for the expenses they incurred in completing finishing works on their apartments before moving in.
Consequently, the USD 13,000 that tenants had to pay for the finishing works will be compensated by a reduction in rent over a seven-year period. This has resulted in the rent being reduced to USD258.
President Muizzu has also delivered on his promise to reduce rowhouse prices to USD216, and this reduction will be applicable for the next 20 years.