Hulhumale’ Phase II development has been an extremely exciting project that many have been looking forward to. From providing affordable housing under the Hiya flat housing project to companies such as Male’ Water and Sewerage Company (MWSC), the State Electric Company (STELCO) and Maldives Airport Company Limited (MACL) have also been working on housing projects to provide housing for long-term employees of each respective company.
With these developments, a lot of people moved to better and more affordable housing, that they could fully own in periods up to 25 years. Following this period, the respective owners of the apartment can fully own it and would no longer require to pay rent.
On March 1, 2023, MWSC handed over the MWSC flats under the Hiya project to 192 of their employees. The finances for the construction of the flats were borne by MWSC themselves in an effort to get their employees the opportunity to get proper housing. The Managing Director of the company further highlighted their ambition to ensure that the employees who did not get housing during this round also get further opportunities to find proper and affordable housing.
In order to make the payments for the flats easier on the employees, MWSC has also made it possible for the employees to apply for loans through Maldives Islamic Bank so that the initial payments and move-in fees would be less of a burden on the employees.
The MWSC flats are more spacious than the initial Hiya flats, compromising 60 three-bedroom flats, 40 one + two-bedroom flats, and 92 one-bedroom flats. In addition to the housing itself, the MWSC flat also has a play area for children, a parking lot and a space designated for the development of a shop.
With the housing projects as well as tourism development projects to take place in Hulhumale Phase II, in the future, life in that area might become more ideal than the currently preferred Phase I.