STELCO flats to be handed over to staff in August

STELCO's Managing Director Ahmed Shareef speaks at ceremony held to mark the 25th anniversary of the utility company. (Photo/President's Office)

State Electric Company (STELCO)’s managing director Ahmed Shareef states the staff housing units developed in Hulhumale’ Phase II will be handed over on August 7.

Shareef made the announcement during a meeting of Saturday evening to introduce STELCO’s new chairman, former Central Hithadhoo MP Brigadier General Ibrahim Mohamed Didi (Didi) to the company’s staff.

STELCO had previously been scheduled to hand over the flats on Sunday.

Shareef acknowledged the delay, and said the staff would be handed over the flats on August 7.

“The staff who purchased the flats will be able to enter their units on August 7 for sure. Those among us who received flats will need to take their lunch in the their flat,” he said.

Shareef said that good maintenance work was required to ensure the flats are usable for a long period of time. He said that MVR 1,000 will be taken as a maintenance fee for one-room flats, and MVR 1,300 for three-room flats.

Shareef said STELCO planned on building a swimming pool between the two 15-story towers.

“There are also additional facilities. There’s 24-hour security. It will be provided by this company’s security officers,” he said.

Shareef said STELCO had spent MVR 640 million on the flats, and that the cost was expected to rise to MVR 700 million, with additional expenses.

STELCO’s staff will not be charged rent on the flats until December.

The rent for a one-room apartment is MVR 5,622, while the rent for a three-room apartment (including a maid room) is within the range of MVR 10,356-10,652.

Construction of staff housing for state-owned enterprises had begun in Hulhumale’ Phase II during former president Abdulla Yameen Abdul Gayoom’s administration.

STELCO has 360 flats in two towers, including 72 one-room flats and 288 three-room flats.