FDC Rules Out Rent Reduction for Hulhumale’ Phase II Flats

Fahi Dhiriulhun Corporation (FDC) has confirmed that there are no plans to revise or reduce the rent for the 4,000 housing units developed in Hulhumale’ Phase II.

Managing Director Hamdhan Shakeel stated to local media that the corporation does not intend to offer any further rent relief, following calls from tenant representatives for a review of current rates.

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The request was made by the Fahi Union, a group representing tenants, which urged the government to reinstate the rental rates set under the previous administration and to lower the required down payment for the flats.

The housing project comprises 1,250 two-bedroom units and 2,750 three-bedroom units. Under the previous government, monthly rent was set at MVR 6,000 for two-bedroom flats and MVR 8,000 for three-bedroom flats, inclusive of maintenance fees. Under the current arrangement, rents have been increased to MVR 7,000 for two-bedroom units and MVR 10,000 for three-bedroom units.

The Fahi Union has also called for a reduction in down payment requirements and an extension of the existing three-month grace period to between six months and one year, citing global economic pressures and the costs associated with relocating to the new housing units.

The development comes as housing policies remain under public scrutiny. The Housing Development Corporation (HDC) recently announced a two-year rent reduction for shelter flats, a decision made shortly before the upcoming local council elections. The move has prompted criticism, with some alleging that the concession was introduced amid increased political competition ahead of the vote.