Subsidy Announced for 4,000 Apartments if Rent Paid on Time

Tenants of the 4,000 apartments built by Fahi Dhiriulhun Corporation (FDC) in Hulhumale’ Phase 2 will now qualify for rental subsidies, provided they settle their monthly rent payments on time, the company has announced.

Speaking to MV+, an FDC official explained that tenants who pay rent on or before the 10th of each month will get the full subsidy. This means a two-room apartment will cost MVR 7,000 plus MVR 1,000 maintenance fee (total MVR 8,000), while a three-room apartment will cost MVR 9,000 plus MVR 1,500 maintenance fee (total MVR 10,500). Without subsidy, the rent would rise to MVR 9,000 and MVR 13,000 respectively, excluding maintenance fees.

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For those paying later, the subsidy gradually decreases:

• Paid between the 11th and 16th: 75% subsidy;  

Two room rent with maintenance: MVR 8,500

Three room rent with maintenance: MVR 11,500

• Paid between the 17th and 21st: 50% subsidy;

Two room rent with maintenance: MVR 9,000

Three room rent with maintenance: MVR 12,500

• Paid between the 22nd and 26th: 25% subsidy;

Two room rent with maintenance: MVR 10,500

Three room rent with maintenance: MVR 13,500

• Paid after the 26th: no subsidy; 

Two room rent with maintenance: MVR 12,000

Three room rent with maintenance: MVR 14,500

ޔުނިޓު ލިބުނު ފަރާތްތަކުގެ ތެރެއިން އެއްބަސްވުމުގައި ސޮއިކުރުމަށް އެފްޑީސީން ޝެޑިއުލްކޮށްފައިވާ ފަރާތްތައް އެފަރާތަކަށް ހަމަޖެހިފައިވާ ގަޑީގައި ދާންވީ ތަނާއި، ދާންވީ މަގު!https://t.co/5CnX2iQgAA#fahidhiriulhun #amanmujthamauakah #emmengehihsaa #fahiportal pic.twitter.com/RX7FnMTe7p— Fahi Dhiriulhun Corporation Limited (@Fdc_mv) July 20, 2025

Construction of the 32 towers—16 by India’s NBCC and 16 by KPIL—is now about 95–96% complete, with only utility connections remaining. Housing Minister Dr. Abdulla Muththalib has said these works should finish by the end of September 2025. The apartments are offered under a 25-year lease-to-own model, after which residents will gain full ownership.

FDC began signing agreements with tenants yesterday. Signing is held daily from 9 a.m. to 4 p.m. on the Hulhumalé synthetic track, with exact locations shared via FDC’s official channels. Priority is given to residents of towers that are fully completed.

Meanwhile, the government has reversed some recently announced policies on housing. Notably, the rule requiring spouses of Binveriyaa land recipients to give up their land if they wished to apply for a flat under the Gedhoruveriya scheme has been cancelled. The ministry noted that although land had been allocated in areas like Hulhumalé Phase III, Gulhifalhu, and Giraavaru Falhu, it may take years for recipients to build homes there—and some plots have yet to be reclaimed.

Originally launched under the previous administration, the Gedhoruveriya housing scheme’s beneficiary list had been finalised before the change in government. President Dr Mohamed Muizzu’s administration later reviewed the list, identifying 1,820 eligible recipients. The government has now decided to revert to the original list prepared by the previous administration, while excluding those who do not meet eligibility requirements.

Those deemed ineligible include individuals who have previously benefited from government housing schemes, obtained housing through state-owned enterprises, or own private homes larger than 600 square feet. In the final weeks of the former administration, FDC sent digital agreements to applicants, with 3,778 reportedly signing them electronically. 

The Ministry said it has already started notifying those who have been ruled ineligible based on these criteria. No new list will be published, according to the ministry; instead, only those directly notified will be removed from the finalised list.