Maldives Ports Limited (MPL) has introduced easier payment methods for flats developed for its employees under the government housing scheme.
At the ceremony to celebrate the 36th anniversary of MPL, Chief Executive Officer (CEO) Shahid Ali said employees have been given multiple options to pay for the flats, including splitting the payment into 20 years. He added that flat recipients also have four options for paying the down payment.
Previously, MPL stated flat recipients are required to pay USD9,700 as a down payment within the first three months and pay the other USD9,700 with monthly payments of USD1,600, or take a loan from a bank and pay the full down payment. Employees expressed concern over the short period of time allowed to pay the down payment and requested Minister of National Planning, Housing and Infrastructure Mohamed Aslam to solve the issue.
MPL has built three towers with 534 apartments, which are 204 one-room apartments and 330 three-room apartments. The state-owned company chose the flat recipients through a lucky draw in June and the towers are expected to be completed by October.