Hulhumale’ Phase I flats’ rent reduction to take effect on Thursday

Housing Development Corporation (HDC) states the rent of flats issued from Hulhumale’ Phase I will be lowered by 20 percent starting tomorrow.

HDC, in a post on X on Wednesday, announced the decision to levy a 20 percent on the monthly rent of flats issued from Hulhumale Phase I starting Thursday, February 1 as part of President Dr. Mohamed Muizzu ‘Hafutha14’ roadmap, or first 100-day goals.

The discount, however, will not apply to the maintenance fee.

Reducing the rent of flats issued from Hulhumale’ Phase I is an electoral pledge of President Muizzu.

President Muizzu said he made the decision in light of the current economic situation, with small and medium businesses down, resulting in a decrease in people’s income.

President Muizzu said that he understands that people have a tough time paying the rent, and that the government therefore wants to help.

The government has also waived off fines for non-payment of rent on the flats.