President says Hiyaa flat rents will be reduced further
At the meeting, several residents raised concerns about the rent of Hiyaa flats and the structure of the current payment system.
Top Stories
President Mohamed Muizzu on Thursday said the government will further reduce the rent of Hiyaa flats in Hulhumalé Phase II, in line with commitments made during his presidential campaign.
The president made the remarks during a series of meetings with residents of Malé, including a meeting held at Salahuddin School in Hulhumalé Phase II. At the meeting, several residents raised concerns about the rent of Hiyaa flats and the structure of the current payment system.
Muizzu said his campaign pledge was to set the monthly rent of Hiyaa flats at MVR 5,600, a rate determined during the administration of former President Abdulla Yameen, under which the project was initiated while Muizzu served as housing minister. He noted that his administration reduced the rent to MVR 3,984 for a period of seven years starting from December 2023. The rent payable after that period has not yet been finalised.
“I will take the rent of Hiyaa flats seriously. I will revise the agreements so the promised amount can be maintained. I do not support a system where the rent increases after seven years,” Muizzu said.
During the presidential election campaign, Muizzu also pledged that residents of Hiyaa flats would receive MVR 200,000. To implement this, the government deducted MVR 100,000 from the total price of each flat. The remaining balance was arranged to be paid over seven years, with monthly payments set at MVR 5,300 and MVR 3,984.21.
At Thursday’s meeting, one resident called on the president to fulfil the promise to provide MVR 200,000 to residents who have not paid rent. It was also announced that a petition signed by 2,500 residents would be submitted to the president.
Muizzu said he would review the matter and had instructed officials to compile information on outstanding rent payments before deciding on further steps.
The president also addressed other issues raised by residents. He said construction of three parking buildings in Hulhumalé Phase II has been commissioned and work is expected to begin within three months. He said installation of elevators in Hiyaa flats is scheduled to be completed by April 2026.
Muizzu said concerns raised by residents would be addressed when Hiyaa agreements are revised and that efforts would be accelerated to establish corporate societies for the flats.
