Construction of a housing project in Hulhumale is underway. Photo/HDC

HDC mandates price freeze for 60% of private flat developments

If any additional fee or add-on is charged, the unit buyer will sign a form stating that there is no objection.

19 February 2023

By Aishath Fareeha Abdulla

HDC has said that it has asked private companies not to change the minimum price of 60% of the flats built in housing projects in Hulhumale by private companies.

Regarding the housing projects being awarded to private companies in Hulhumale, HDC said in a statement on Thursday:

  • 22 such projects in progress 

  • A total of 5,198 units

  • These include medium- and upper-level housing projects

According to HDC, the projects in Hulhumale will be built in such a way that the public can buy it at the lowest price. HDC has made several efforts to ensure this, the company said in a statement.

HDC said:

  • The norms for awarding a housing project to private players in general have been changed

  • The builders have been asked not to increase the minimum price for selling 60% of the units in each project

  • If any additional fee or add-on is charged, the unit buyer will sign a form stating that there is no objection

With this move, in some cases, the withdrawal of additional add-ons will be stopped and people will be able to access good quality housing at hand. 

Housing projects under way in the first phase:

  • 116 units handed over to RCC; 50% of the work has been completed

  • 129 units handed over to SASe Glut

  • 105 units handed over to SJ Construction

  • 53 units handed over to Fedo

  • 162 units handed over to Rainbow; 58% of them have been completed

HDC says that a large percentage of the company's efforts to make Hulhumale an island with housing at all levels are progressing as per schedule. HDC said it has identified and resolved the issues of four delayed projects due to various reasons initiated earlier and worked closely with contractors.

  • With work on 94 units being handed over to Ensis stalled, the project has resumed and now the owners can move in to the flats

  • 98% of the work on 129 units to be developed by NPH has been completed