Hiyaa flat rent to be reduced to MVR 4,000 in an MNP gov't

The rents of the flats issued under the Hiyaa social housing scheme will be reduced to MVR 4,000 by a government of the Maldives National Party (MNP), the party has said.

Replying to a question at the MNP clubhouse session on Friday, the party's President and presidential candidate, Mohamed Nazim, said the rent of Hiyaa flats would be reduced to MVR 4,000 per month under his government. The rent of the flats will be reduced by restructuring the loan taken for the construction of the flats, he said.

The Hiyaa flat project was initiated by former President Abdulla Yameen Abdul Gayyoom, and the majority of the 7,000 flats developed under the project were completed during his administration. President Yameen's government had decided to charge MVR 5,500 as monthly rent for the units.

The current government increased the amount to MVR 8,500, including a maintenance fee of MVR 1,000. According to the government, MVR 7,500 is the maximum rent reduction possible due to the high amount of loans taken to build the flats. Despite this, President Ibrahim Mohamed Solih recently hinted that the flat rents might be reduced soon.