All electrical work completed for 4,000 flats

The State Electric Company (STELCO) announced today that all work required to provide electricity to the 4,000 flats developed by Fahi Dhiriulhun Corporation (FDC) in Hulhumalé Phase 2 has been completed.

In a social media post, STELCO stated that cables have been laid to the main panels of these buildings, connections have been established, and testing has also been conducted.

According to the company, all technical work necessary to connect electricity from the main panels to the individual apartments has now been finalized.

FDC reported on the eighth of this month that 1,262 of the 4,000 flats have already been handed over to recipients.

The company has expedited the handover process following President Dr. Mohamed Muizzu's pledge to ensure recipients can move into the flats before the new academic year begins on the 27th of this month. Recipients are currently being notified of their specific handover dates through the official portal.

Sharing the latest updates on the progress, Managing Director Hamdhan Shakeel told "Mihaaru News" at the time that the company aims to complete the handover of all flats by the 25th of this month.

The keys to the flats, which were constructed by two Indian companies, are being handed over upon payment of the security deposit. During the President’s meetings with residents of various Malé neighborhoods, many had requested for the keys to be handed over quickly and for the rent and down payments to be reduced.

In response to public complaints that the rent and deposits were high compared to other social housing schemes, the President has since reduced both the monthly rent and the security deposits for these units.

The monthly payment for a two-bedroom flat, including the maintenance fee, has been reduced from MVR 8,000 to MVR 7,000.

Additionally, the security deposit, which was previously MVR 15,000, has been lowered to MVR 6,000. With these changes, the monthly payment for three-bedroom flats, including the maintenance fee, is now MVR 10,000, while the security deposit has been reduced to MVR 8,500.

Previously, the three-bedroom units were set at MVR 11,500 per month with a security deposit of MVR 25,000.

Recipients are exempt from paying rent for three months starting from the date the keys are handed over, though maintenance fees must still be paid during this period.