Recipients of 4,000 Hulhumalé Flats to Gain Ownership After Rental Period, Says Minister
Construction progress of Gedhoruveriya Flats initiated by the former government | Photo: The President’s Office
Minister of Construction and Infrastructure Dr Abdulla Muththalib has announced that recipients of the 4,000 flats currently being developed by Fahi Dhiriulhun Corporation in Hulhumalé will be granted ownership after completing a fixed rental payment period.
Speaking on a programme aired by Public Service Media radio, the minister explained that the proposed change is intended to address persistent issues of rent non-payment within social housing schemes.
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Dr Muththalib said the framework for this change would be introduced through the Housing Bill, which is presently under consideration in Parliament. The proposed policy would revise the current allocation rules and introduce a more structured approach.
According to the minister, one option would be to provide the flats through mortgage financing, while another would allow tenants to gain ownership after paying rent over a defined period.
He explained that the 4,000 flats will be allocated under agreements lasting 25 years, with ownership of the units transferred to residents upon completion of the agreed rental term.
Dr Muththalib stated that the government expects this measure to help address the challenge of rent defaults, noting that the state has yet to recover more than MVR 700 million in unpaid rent from earlier social housing projects.
