President Dr Mohamed Muizzu has assured that the government will secure the most appropriate solution to address public concerns regarding the down payment for the 4,000 housing units developed in Hulhumalé Phase II by Fahi Dhiriulhun Corporation (FDC) under the Gedhoruveriya scheme.
The assurance was given during a consultative meeting with residents of the Galolhu ward in Malé City.
Addressing the housing project, the President clarified that there have been no changes to the points awarded to applicants, noting that the flats were allocated based on the recipient list finalised by the previous administration.
While the housing units are nearing completion, the President said remaining works include water and electricity connections. He added that the government aims to hand over the flats within the coming week, with residents expected to move in by the end of the month.
Responding to concerns over affordability, President Muizzu said the government will implement the most feasible solution, including arrangements to ease the burden of the USD 1,621 down payment and monthly rental payments.
At present, deposits of USD 973 and USD 1,621 are required for two-bedroom and three-bedroom apartments respectively. The government has also decided to introduce significant rental subsidies for tenants who make regular payments. Under the scheme, monthly rent will be reduced to USD 454 for two-bedroom apartments and USD 584 for three-bedroom apartments for eligible tenants.
Reiterating that resolving the housing crisis remains a top priority, the President noted that no previous government had allocated housing specifically for individuals whose mothers passed away before inheriting property from their parents. As pledged, he said a special housing category will be introduced to support such individuals.