Over 3,000 people have signed agreements for flats under the Gedhoruveriya housing scheme in Hulhumalé Phase II, according to Fahi Dhiriulhun Corporation (FDC).

FDC Managing Director Hamdan Shakeel has said that 3,119 agreements have been finalised to date, while 588 recipients have paid security deposits and maintenance fees. He noted that contracts for the 4,000 flats began on 21 July and have continued every day except public holidays.

The project includes two-room and three-room apartments. Two-room units are leased at MVR 7,000 per month with a MVR 15,000 deposit and MVR 1,000 monthly maintenance fee. Three-room flats are leased at MVR 9,500 per month with a MVR 25,000 deposit and MVR 1,500 monthly maintenance fee. Deposits must be paid in a lump sum, though recipients will be given sufficient time to settle the amount.

FDC has confirmed that keys to the apartments will be handed over once deposit payments are complete and utility services have been registered.

The Government earlier announced rent subsidies for prompt payers, reducing monthly rent for three-room units from MVR 13,000 to MVR 9,000 and for two-room units from MVR 9,000 to MVR 7,000. Officials said the measure is intended to ease household expenses while encouraging timely payments.

The development comprises six Aman Hiyaa towers and six Aman Dhodhi towers, providing a total of 2,800 three-room apartments alongside two-room units. Structural work on Dhodhi and Udhares towers has been completed, with finishing underway across all towers. Overall, FDC estimates construction progress at between 80 and 86 per cent.