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STELCO flats. (Atoll Times File Photo)

Committee approves recovery measures for unpaid STELCO flat rent

The STELCO Hiyaa flats comprise two residential towers developed under a housing project by state-owned companies.

15 July 2025
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The Parliament’s Finance Committee has approved a recommendation advising the State Electric Company (STELCO) to recover outstanding rent from recipients of the STELCO Hiyaa flats.

The matter was raised during today’s committee meeting by Kelaa MP Abdulla Shareef. The flats were developed to provide housing for STELCO employees, with rent deducted from salaries of serving employees. However, it was noted that some individuals who have since left the company, including former board directors, were allocated flats and have not paid rent.

During the committee discussion, Baarah MP Ibrahim Shujau proposed enforcing contractual measures, including the disconnection of electricity for tenants who have defaulted on payments. He also mentioned that some outstanding amounts are small but remain unpaid. Specific figures mentioned included unpaid rent of MVR 24 for one flat and MVR 178,000 in another case.

The total unpaid amount was not disclosed, as discussions were held without microphones.

MP Shareef proposed that STELCO be directed to act in accordance with the agreements signed with flat recipients. He said employees currently serving the company are treated differently compared to those who are no longer employed by STELCO, and called for uniform treatment.

“There should be equality in this. Let’s instruct STELCO to treat all parties based on their agreement and the payment records,” Shareef said.

Henveiru North MP Ahmed Aifan supported the motion and stated that if an agreement is signed, all parties should comply with its terms. The proposal was passed unanimously by committee members present.

The STELCO Hiyaa flats comprise two residential towers developed under a housing project by state-owned companies. The flats include one-bedroom and one-plus-two-bedroom units.

Key project details include:

  • Total project cost: MVR 692 million

  • MVR 62 million to be paid by employees; remainder funded by STELCO

  • Monthly rent ranges from MVR 5,622 to MVR 10,652

  • Monthly maintenance fee: MVR 1,000

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