Maldives Ports Limited (MPL) has revealed that the Hiyaa flats being developed in Hulhumale’ Phase II will be handed over by early next year.
Chief Executive Officer (CEO) Shahid Ali said the current work involves allowing employees to tour the buildings and observe the progress as well as taking down payments. He, however, said there will be delays in handing over the flats. He said that MPL is holding discussions with the contractor to complete the work by October 31 and to allow the owners to move into their flats by early next year. He added that the project was delayed due to the lockdown during the COVID-19 pandemic, which had halted the fieldwork, and made it difficult to procure the material needed for the project.
MPL is developing three 15-storey buildings exclusively for its employees under the Hiyaa housing project. MPL stated that employees who are on the list of flat recipients have three options for payment, which include making a one-time payment in full, splitting the payment to be paid in one year, or taking a loan from a bank and paying in installments. MPL stated that it aims to make the payment process easy for its employees but that it will take action against them with assistance from the relevant authorities if they fail to make payments.
MPL will be selling 534 flats under four categories, which are one-room Type-A apartments, one-room Type-B apartments, 2+1 Type-A apartments, and 2+1 Type-B apartments. The price of the flats ranges from USD52,000 to USD98,000.
MPL initially published the list of flat recipients in 2018 but the new management after the presidential election cancelled the list and re-opened the application submission process in 2020 after introducing a new point system for applicants. MPL stated that all the flats have now been distributed to the applicants.