Hiyaa Flats’ rent to be slashed to MVR 5,300

The government has decided to slash the rent of Hiyaa Flats, developed in Hulhumale’ Phase II, to MVR 5,300.

A senior official confirmed the decision to Sun which was taken during a meeting at the President’s Office on Thursday.

Sun was unable to obtain any further details regarding the meeting. Relevant authorities have yet to disclose the rent slash in official capacity as well.

When questioned regarding the rent slash – Urbanco’s Spokesperson told Sun that discussions are underway with the government and Planning Ministry on decreasing the rent. The Spokesperson stressed that a positive change will be brought to the rent after these discussions.

With a monthly rent of MVR 7,500 and a maintenance fee of MVR 1,000, Hiyaa Flat tenants need to pay MVR 8,500 each month.

The previous administration had decided to set the monthly rent to MVR 5,600. Hiyaa Flats were developed during the administration.

This caused outrage among tenants and subsequent protests. However, the current administration, back then, said the rent cannot be decreased any further.