MTCC stretches Hiya flat down-payment to 2 year period

Maldives Transport and Contracting Company (MTCC) revealed the down-payment to acquire apartments under Hiya housing scheming will be stretched to a two year period.

The company's Chief Executive Officer Ibrahim Ziyath confirmed a housing unit from the planned high-rise towers under Hiya housing scheme will be sold around MVR700,000 to MVR800,000 for single room apartments.

Two room apartments will be sold between a price of MVR1.2 million and MVR1.3 million while apartments with two bedrooms and a maid room will be sold at price of MVR1.4 million and MVR1.7 million.

The transport and contracting company will be constructing two 14-storey towers with a total of 400 apartments under government initiated Hiya housing project.

Both towers will comprised of 160 single room units, 80 double room units and 160 units of apartments with maid rooms.

The company forecasts a total of MVR439 million will be spend on the project.