Housing Development Corporation (HDC) has announced that amendments to the Hiyaa housing agreements – including revised flat prices – are now available for residents to view through the My Hulhumalé portal. The corporation said the update is a key step in formalizing government-approved relaxations for Hiyaa recipients.

The government earlier moved to reduce financial burdens on Hiyaa flat owners following discussions with Bank of Maldives (BML). President Dr. Mohamed Muizzu announced that the profit (interest) rate for Hiyaa loans would be reduced – from 12 to 10 percent for social housing loans and from 9 to 8 percent for related facilities. BML has issued 535 loans for completing Hiyaa flats and 26 loans for purchasing them.

As part of broader housing relief measures, the government also reduced Hiyaa rents, cutting monthly payments from MVR 8,500 to MVR 4,984, with MVR 1,000 allocated for maintenance and MVR 25,000 deducted from overall rent.

HDC said residents can now review agreement changes, check updated pricing, and complete required documentation through the portal. The corporation added that these adjustments will ease financial pressure on flat recipients and help expedite the transfer of ownership. HDC affirmed its commitment to working with the government to address housing issues in Hulhumalé.