President announces reduction in rent and down payment for FDC flats in Hulhumale'

President Dr. Mohamed Muizzu has announced a reduction in the rent and down payment for flats built by Fahi Dhiriulhun Corporation (FDC) under the housing scheme initiated during former President Ibrahim Mohamed Solih’s administration.  

The announcement was made during a meeting with residents of Hulhumale' Phase II on Thursday evening.  

The President said beneficiaries of the flats built under the landlord scheme will be able to access their homes within a short period of time.  

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— The President's Office (@presidencymv) December 18, 2025

He detailed the changes as follows:  

• Three‑bedroom apartments: Monthly rent reduced from MVR 10,500 to MVR 10,000; advance payment reduced from MVR 25,000 to MVR 8,000.  
• Two‑bedroom apartments: Monthly rent reduced from MVR 7,000 to MVR 6,000; advance payment reduced to one month’s rent.  

“Therefore, the FDC will renew the agreement with the recipients,” the President said. 

It is interesting to note that one of the attendees spoke on the matter in the meeting.