The government has decided to reduce the rent and downpayment of Vinares apartments.

The President held a press conference after today’s ministerial meeting. Muizzu said he had promised to reduce the down payment and rent of Vinares Flats. Today, the prices have been reduced, he said.

“The current down payment will be reduced by 50 percent and the monthly payment will be reduced by an average of MVR 4,200,” he said.

The President also decided to deduct MVR 200,000 from the price of the Hiyaa Flats to reimburse the owners of the expenses incurred in the finishing of the flats.

"Now we are paying MVR 5,300. For the next seven years, we will have to pay MVR 3,984 per month. The price of the hiyaa flats has been reduced to MVR 3,984 for the next seven years," he said.

During the last presidential election campaign, President Muizzu promised to pay MVR 200,000 as compensation to the owners of the flats for the finishing work.

The President has also reduced the monthly rent for rowhouses, flats and residential housing units built in rural areas. He reduced the a price to MVR 3,300.