Rent for FDC flats undecided

Rental payments for flats being built by the state-owned Fahi Dhiriulhun Corporation (FDC) in Hulhumale Phase 2 under an Indian Exim Bank loan is yet to be decided, housing ministry said Sunday.

FDC has started a project to build 4,000 housing units in Hulhumale Phase 2. 

Out of the 16 towers that began works in February last year, 13 will be completed by July this year, according to company.

While some apartments will be completed by July, the government is yet to decide on the rate at which they will be rented. State housing minister Akram Kamaluddin Atoll Times that the rental payment will be decided later.

However, President Ibrahim Mohamed Solih said on 4 July 2019 that FDC flats will be subject to rent control at a cap of MVR 6000 for two-room apartments and MVR 7000 for three-room apartments.

Two Indian companies have been contracted to build the 4,000 flats.

These housing units include:

More than 20,000 applicants had applied for the 4,000 flats under the housing scheme for natives and long-term residents of Male. 

According to the housing ministry, the verification process of the application forms will be completed by the end of February.