Living at a flat at the social housing towers developed under the ‘Hiyaa Project’ in Hulhumale’ City Phase II is the dream of 6,270 flat winners announced earlier. Accordingly, the draws to determine the specific flats allocated to the respective recipients has commenced earlier this morning.
Speaking at a press conference held yesterday, the Minister of National Planning, Housing and Infrastructure Mohamed Aslam, has revealed that the administration has finally set the rent ceiling of these flats – the highest monthly rent for each unit being MVR 7500, for recipients foregoing the down payment option. The Minister further detailed that the rent had been subsidized by the government, to ease the financial burden on lower-income families – noting that the original price would have been MVR 11, 000 which is inclusive of the cost of construction and cost of financing through the loans.
Housing Minister also disclosed details regarding the option for recipients in some categories of the scheme to opt for housing under more financially appropriate schemes carried out by the government. This option allows for more lower-income families with a greater need for low-cost housing to take up the units.
(Photo: President's Office)