Housing Development Corporation (HDC) has decided to defer a portion from monthly repayments for housing and commercial units along with industrial lands.

A statement issued by HDC noted that the decision was to help out businesses and the public as much as possible under the economic recovery plan by the state.

As such, 30 per cent of rental payments for March and April are to be deferred. Deferments are only available to those who regularly pay their installments only, after applying for a deferment to HDC.

They further added that those who had paid for March and April will receive a refund for the 30 per cent upon submitting the deferment form. The announcement also added that those who wished to do so can request to pay the deferred 30 percent within a 12-month period.

Those who are behind on their rental payments will be allowed to make payments according to the debt collection policy of the corporation.

They also further stressed that compound interests would not be charged for the payment table formed under the Islamic schemes.

The corporation also stated that it would guarantee to arrange other alleviations if a situation warranted such measures.