Local market squares from the 'Hiyaa Local Market' have been handed over to recipients.
The temporary market established in Hulhumale' Phase II has 19 market squares. Only those who received Hiyaa flats under the Hiyaa housing scheme were eligible to apply for the slots. According to HDC, 558 people applied for the squares.
A draw was held among applicants to decide who would receive the squares. HDC drew five additional names as waitlist names in the case any of the original recipients chose to give up their slots.
HDC said agreements had been signed with seventeen out of the 19 people who were chosen. The corporation said their area in the market had been officially handed over to them.
The monthly fee for market squares is MVR 2,000. Upon winning the draw, the recipients paid a security deposit of MVR 1,500. Recipients were asked to settle one month's rent in advance two days within the date HDC confirms their slots in writing.
The security deposit will be reimbursed to the recipients when their lease period ends and if they have no outstanding payments at the end of the period. However, if they give up their slot before the lease period ends, they are not eligible to receive their security deposit.
Service must be provided from the market squares within a week of signing the agreement. Failure to do so would terminate the deal.
