Muizz vows to cut rent of SOE flats under Hiyaa housing project
"Flats [such as the Hiyaa project] should not become a trap to take away the small amount of money held by the people," Muizz said.
By
Fathmath Ahmed Shareef
The rent of the flats built by State Owned Enterprises (SOEs) under the Hiyaa project initiated in Hulhumale during the previous government in which he served as the housing minister will be reduced if he is elected president, opposition PPM-PNC presidential candidate Dr Mohamed Muizz pledged on Wednesday evening.
In addition, the rent of the Vinares flats developed in Hulhumale will also be reduced, he said.
Noting that many people asked him during his door-to-door campaign whether the recently given land will be confiscated in the event of a change of government, Muizz said that they were gross lies and threats spread by the ruling MDP in preparation for the September 30 runoff.
Speaking at a rally in front of ADK Pharmacy on Maaveyo Magu Wednesday evening, Muizz assured that his government would not confiscate any land, flat or job given to anyone.
Reiterating those words, Muizz said his government will also reduce the rent charged for the flats built by government companies under the Hiyaa project. The flats are charged higher rents than the commercial rate, he said, adding that the Hiyaa project was not started by the former President Abdulla Yameen's government for such a profit.
"Overall, we will reduce the prices of flats built by various state-owned companies in Hulhumale'. Flats built at high prices will be built and people who can afford them will take them. But flats [such as the Hiyaa project] should not become a trap to take away the small amount of money held by the people," Muizz said.
STELCO
Construction of two towers in the second phase of Hulhumale for STELCO employees started on February 1, 2019. The two towers have a total of 360 flats.
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72 one-bedroom apartments
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288 apartments with 2+1 rooms
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More than 300 employees have been handed over the keys to the flats
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One-bedroom apartments cost MVR 5,622 per month.
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2+1 bedroom apartments are priced between MVR 10,356 and MVR 10,652 per month
MPL
MPL has built three 15-storey towers under the contract of W&A Overseas, a Singaporean company. The towers have 534 apartments.
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204 one bedroom apartments
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330 2+1 apartments
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MVR 160,000 for the down payment of a one-bedroom apartment. After that, the apartments have to pay MVR 5,580 per month.
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The down payment for a two-bedroom apartment is MVR 300,000; after that, will have to pay MVR 10,095 per month.
Muizz said the Vinares flats were also started during the Yameen administration and the government has changed the name of the project and increased the prices of the flats.
As the housing minister during the Yameen government, he said he knew the real price of the flats.
Muizz said this government has fixed the down payment and monthly fees of the flats at a higher price than the original price of the project.
“Although I cannot give the exact prices here, I can assure you that we will reduce the high down payment and monthly payments of the Vinares flats,” Muizz said.
Muizz has previously expressed concern about the high prices of Vinares flats. He said the properties were to be allocated at a rent of MVR 7,000 per month during the Yameen government.
Urbanco has responded to Muizz's remarks by saying that Vinares is not a social housing scheme. The apartment is sold as commercial housing. The price of an apartment under a commercial housing scheme is higher than under a social housing scheme and a down payment is required.
The government has decided to sell the Vinares flats for a monthly rent of at least MVR 16,000.
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For down payment, 20% of the sale price (MVR 500,093 - MVR 609,515), with monthly rent between MVR 16,790 and MVR 20,470
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For down payment, pay 15% - 19% of the selling price (MVR 375,070 - MVR 457,136) with monthly rent between MVR 19,130 and MVR 23,310
Vinares Project
On June 20, 2023, Urbanco was handed over the flats that were built by China's Machinery Engineering Corporation (CMEC) in Hulhumale' Phase II during former President Yameen's administration. In the Vinares project:
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10 towers of 11-13 storeys totaling 1,344 apartments; three bedroom apartment
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The apartments are priced between MVR 2.5 - 3 million
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18 July 2022; Urbanco opened for applications for purchase of flats
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27 November 2022; Provisional list of flat recipients released
The provisional list released by the HDC shows that most of the applicants did not meet the eligibility requirements:
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1413 people applied
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Of these, 723 were eligible
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475 of those who have been living in the city for more than 15 years without registration met the requirements
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Of those under 15 years of age registered in the city, 248 qualified
