President Dr. Mohamed Muizzu has announced reductions in rent and advance payments for FDC flats, responding to concerns raised by residents of Hulhumalé Phase II.
The President made the announcement during a meeting with Hulhumalé Phase II residents, where many raised complaints about high rents and down payments.
Dr. Muizzu said the decision aims to ease the financial burden on families. He announced lower advance payments and reduced monthly costs for FDC flats.
The advance for three-room flats will be cut from MVR 25,000 to MVR 8,000, while the advance for two-room flats will also be reduced. Monthly maintenance for three-room flats will drop from MVR 10,500 to MVR 10,000.
Following the decision, FDC published the revised rent structure. Residents who paid higher advances earlier will receive deductions from future rent, according to the corporation.
