In a significant development for residents of the second phase of Hulhumale’, President Dr. Mohamed Muizzu has declared a reduction in the rent for both Hiya flats and Vinares flats. The announcement was made at the press conference today following a Cabinet meeting.
The residents of Hiya flats will see a reduced monthly rent, now set at MVR 3,984 for the next 7 years. President Muizzu emphasized the commitment to fulfilling promises made during his presidential campaign, stating that MVR 200,000 would be offered as a compensation to the cost endured by residents to complete the finishing works and which now will be deducted from the rent for the next 7 years.
The President further assured that relevant authorities, including the Ministry of Finance, have been actively involved in discussions to streamline the process and ensure the implementation of these changes. This move aligns with Dr. Mohamed Muizzu’s prior commitment to addressing housing concerns, demonstrating a tangible effort to ease the financial burden on residents while enhancing their living conditions.
As these decisions are set to benefit a significant number of Hulhumale’ residents, the public eagerly anticipates further details on the execution and timeline of these announced adjustments.