Parliament to question Housing Minister on Hiyaa Flat compensation

Hulhumale’ constituency MP of the Parliament Ali Niyaz has requested to summon the current Minister of Housing Dr. Ali Haidar to inquire about the current administration’s plan on compensating Hiyaa Flat tenants.
The MP proposed inquiring the minister about the current administration’s plan to compensate the tenants for the finishing expenses they incurred for the social housing units.
Earlier, the government announced the decision to compensate MVR 200,000 to each of the tenants for the expense.
The MP in his query asked to provide the plan to compensate the tenants, and demanded to know the duration within which the compensation would be paid.
The compensation of MVR 200,000 for Hiyaa Flat tenants is a major campaign pledge of President Dr. Mohamed Muizzu.
The newly appointed Managing Director of Urbanco, former Felidhoo MP Fazul Rasheed promised the compensation would be disbursed to tenants as per the promise.
The 7,000 flats under the Hiyaa housing initiative was carried during former President Abdulla Yameen’s presidency by acquiring a massive loan of USD 400 million (MVR 6 billion).
The flats were awarded to recipients during outgoing President Ibrahim Mohamed Solih’s government without concluding the finishing touches of the units, a decision that attracted public criticism.
Earlier in May 2023, the monthly rent on the units was dropped to MVR 6,300 from the initial MVR 8,500. After the rent cut, the loan repayment period for the units was subsequently stretched from 25 to 27 years.
During the presidential campaign, Dr. Muizzu had promised to slice the monthly rent of the units further to MVR 5,600.
Additionally, in light of the drop in rents from the Hiyaa flats, the current government has allocated MVR 177 million in its state budget to adjust for the expenses arising due to this rent cut.
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