Minister of Construction, Housing and Infrastructure Dr Abdulla Muththalib has said that keys have been handed over to 399 beneficiaries under the Fahi Dhiriulhun Corporation (FDC)’s 4,000 flat housing project.

The flats are being allocated under the Gedhoruviya Scheme, with key handovers commencing on 28 September 2025.

Speaking to the media, the Minister said that flat agreements have so far been signed with 3,879 beneficiaries, and that all remaining contractors are expected to hand over keys by January.

Minister Dr Muththalib said the handover process had initially faced delays as water and electricity works were not included in earlier agreements. He said the Government has since taken multiple measures to accelerate completion.

“When this Government took office, only 33 per cent of the project had been completed. Within two years, progress increased to 68 per cent, with water and electricity connections completed, landscaping works finalised, and flat handovers now underway,” the Minister said.

Keys are issued after beneficiaries sign their agreements and pay the required deposit. The Government has also decided to provide significant subsidies for tenants who pay rent regularly, and flats are handed over only after all finishing works are completed.

Responding to requests from beneficiaries to reduce rent and advance payments, President Dr Mohamed Muizzu announced revised rates. For three bedroom apartments, the advance payment has been set at MVR 8,500 with a monthly rent of MVR 10,000. For two bedroom apartments, the advance payment has been reduced to MVR 6,000 and monthly rent to MVR 7,000.

Beneficiaries who had already paid higher advance payments under the previous rates will have the excess amount deducted from their monthly rent.