Fazul: MVR 200,000 from cost of Hiyaa Flat finishing works will be reimbursed

Urbanco’s Managing Director Fazul Rasheed states MVR 200,000 from the expenses incurred for the finishing works of Hiyaa apartments will be reimbursed to the owners as pledged by President Dr. Mohamed Muizzu during his presidential campaign.

Fazul made the announcement in a post on X.

The announcement came at a time when rumors claiming President Muizzu’s decision against reimbursing the residents for the finishing works have gone viral. 

At an event held in Hulhumale’ during the presidential campaign, President Muizzu said MVR 200,000 from the expenses incurred for the finishing works of Hiyaa apartments will be reimbursed through a loan withdrawn by Urbanco.

President Muizzu said this had been the plan of former president Abdulla Yameen Abdul Gayyoom’s administration, which developed the social housing units.

At a meeting with Hulhumale’ Phase II residents in his capacity as the president-elect, Muizzu had also pledged to install additional two lifts at each Hiyaa tower including one lift spacious enough to accommodate stretchers.