Downpayment for Hiyaa flats will not be collected: HDC

Hulhumalé Hiya Flats | Photo: Mihaaru

Malé, Maldives – The Housing Development Corporation (HDC) stated that a downpayment will not be collected for the Hiyaa flats developed in Hulhumalé during the presidency of Former President Abdullah Yameen Abdul Gayyoom.

HDC announced that the current payment plan for the flats is for a period of 25 years. This includes monthly payments of MVR 7,500 along with an additional MVR 1000 as a flat management fee.

HDC also informed that no payment will be required for the first three months after signing the agreement. However, those who want to pay the downpayment will have the opportunity to do so. The amount of money for the downpayment will be deducted from the total amount for those who pay it. Additionally, those who want to shorten the total payment period, also have the opportunity to do so.

The government previously announced that the Hiya flats developed on Hulhumalé phase two will be given out to the public last March. However the flats have not yet been given out. HDC now informs that flats will be given out by the end of June.