New Urbanco chief assures pledged MVR 200K for Hiyaa flats

Urbanco's new Managing Director Fazul Rasheed has said that President Mohamed Muizzu will fulfil his promise to pay MVR 200,000 as compensation to the flat owners for the finishing of the Hiyaa flats in the second phase of Hulhumale.

The Hiyaa flats built during the government of former President Abdullah Yameen were handed over during the last government, of President Ibrahim Mohammed Solih. The social housing flats were handed over without installing any doors, fans or lights, leaving the interior finishing work incomplete when the flats were handed over to the public.

The government will give a financial compensation of MVR 200,000 to each flat owner to cover the cost of having to do the finishing by themselves if the government comes to power, President Muizzu had said during his presidential election campaign in Hulhumale.

The budget for next year did not include the expenditure, the opposition is saying that the promise will not be fulfilled.

Urbanco’s new Managing Director Fazul, however, responded to the criticism, saying that as per the President’s promise, he assured the flat owners that the money spent on the finishing of the Hiyaa flats would be compensated for.

The work on the Hiyaa flats started when President Muizzu was the Housing Minister. The President criticized the government for not completing the finishing of the flats when they were handed over after the end of the then government, as it was a social housing project and the people that entered these flats would be taking on added burden of completing the interior on their own.

"It was decided that five designs and five options would be given to the people. The USD 46 million loan for completion was taken by HDC. The money was arranged," Muizzu said earlier.

MVR 200 million has been allocated in next year's budget to install additional elevators in Hiyaa flats. Installing more elevators in Hiyaa towers is also a presidential promise.