Housing Minister Mohamed Aslam has announced that the allocation of pricing for the apartments built under the Hiya housing project has been forwarded to the Auditor General’s Office for assessment.
The current administration has altered the monthly costs of Hiya apartments for recipients. As a result, the government required recipients to pay MVR 8,500 each month, including maintenance charges. The Yameen administration claimed that the flats would be available for MVR 5,600 per month.
Minister Aslam stated at a press conference to provide information on the ongoing efforts between the housing ministry and Male’ City Council to review the prices allocated for Hiya flats that the previous administration’s prices were based on construction fees and did not properly factor in loan repayment and Equated Monthly Installments (EMI) payments.
According to Aslam, the expenses cannot be handled unless these elements are considered. Even after the revisions, he remarked that the land price was not reflected in the pricing.
Minister Aslam further stated that the Housing Development Corporation (HDC) has submitted the price allocation for assessment by the Auditor General’s Office. He claimed that the review’s goal is to ensure that the price allocation is fair and just for Hiya flat recipients.
Speaking at the press briefing, Male’ City Mayor Dr. Mohamed Muizzu, who was the housing minister when the Hiya flats were first issued in 2018, indicated that the city council is working to ensure that the revised government pricing are appropriate for a social housing project.
Mayor Muizzu stated that the city council will work with the government to reduce the price as much as feasible, and that if the costs cannot be reduced, the city council will give methods to lessen the financial burden of interior refurbishment and construction.
The government has stated that the Hiya flat agreements would be signed on July 15 and that the flats will be given over to recipients by the end of July.