"Hiyaa flats rent cut due to fear of losing elections"

Mar 31, 2026, 5:10 AM
Photo: Adhadhu

Photo: Adhadhu

Some senior government officials have said the decision to cut rent for Hiyaa flats was ordered by President Mohamed Muizzu to win the referendum on merging the presidential and parliamentary elections.

Several sources in the government and the Housing Development Corporation (HDC) told Adhadhu that some HDC officials were initially against Muizzu's politically motivated decision.

"That's because of the huge financial loss for the company. If the company worsens, it will be extremely difficult next year," a source said.

Sources said the company has been forced to continue with the decision even if it suffered losses since the decision was made directly by the President.

“Even if the company suffers a loss, it was decided to continue because it was the decision of the President,” a government official said.

Talking about why the decision was taken at the last minute, a source said it was related to future election outcomes.

"It is expected to be difficult for the ruling PNC [People's National Congress] to win some constituencies in Hulhumale'. There is also a challenge to win the referendum," the source added.

Although the change will provide temporary relief to many residents of the Hiyaa flats, it will hurt the financial stability of a State-Owned Enterprise (SOE) in the long run, some HDC officials told Adhadhu.

The HDC is implementing the decision by waiving the remainder of the MVR 200,000 promised as compensation for the finishing work of the Hiyaa flats.

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