Rent to be Reduced for Flats in First Phase of Hulhumale’

The government has decided to reduce the rent for all flats in the first phase of Hulhumale’. 

This announcement was made by President Dr. Mohamed Muizzu during a campaign rally for PNC Mayor of Male’ city candidate Azima Shakoor in the mentioned area.

advertisement

advertisement

advertisement

Muizzu clarified that the current monthly rent for these flats ranges between MVR 4,000 and MVR 7,000, inclusive of maintenance fees. Acknowledging the financial strain on residents, he revealed that a 20 percent reduction in rent will be implemented from the upcoming month.

During his address, Muizzu emphasised the government’s commitment to supporting citizens amidst economic challenges, especially with the financial strain on small and medium enterprises affecting individual incomes. 

He assured that the government would handle the 20 percent reduction, which mainly involves managing loans due under agreements related to the flats in the first phase.

Muizzu also mentioned concessions on maintenance fees as part of the relief measures aimed at alleviating financial burdens on residents. These steps are taken with the intention of providing assistance to the people given the economic challenges faced by the community.

The decision to reduce rents in the first phase of Hulhumale’ aligns with the government’s efforts to address the economic impact on individuals and promote financial stability within the community.