The Housing Development Corporation (HDC) has announced a significant rent waiver for tenants of the Hiyaa housing project in Hulhumale Phase II. The decision aims to compensate residents for the finishing expenses they incurred upon moving into the social housing units.

In a formal communication to flat owners, HDC stated that the remaining balance of the MVR 200,000 finishing discount promised to each unit will be applied to offset monthly rent payments starting this Wednesday. For tenants who do not have outstanding arrears, the discount will be applied against the monthly installment of MVR 5,300 until the total discount amount is exhausted.

As a result of this financial adjustment, regular rent payments for Hiyaa flats are now scheduled to resume on May 1, 2028. However, the corporation emphasized that while the rent component is waived, tenants are still required to pay the monthly management and maintenance fees.

Under previous government adjustments, the monthly rent for a Hiyaa apartment was set at MVR 3,984, totaling MVR 4,984 when including the MVR 1,000 maintenance fee. HDC has clarified that once the discount period concludes, the monthly payment will be adjusted to MVR 5,300 until the full cost of the flat is recovered.