Shocking scam unfolds: Gedhoruveriyaa flats rented out with MVR 25,000 down payment!

It has been revealed that the 4,000 flats constructed under the 'Gedhoruveriyaa' scheme, launched during former President Ibrahim Mohamed Solih’s administration, are now being distributed by the current government of President Dr. Mohamed Muizzu as rental units through a real estate model.

According to information shared by the Fahi Dhiriulhun Corporation (FDC) during a meeting held with Fahi Union on 20 July 2025, to gather information about the 4,000 flats, FDC stated that the scheme is different from previous social housing schemes in terms of flat distribution.

During the meeting, the corporation disclosed that the 4,000 flats are being distributed on a rental basis.

According to a statement released by Fahi Union on Sunday, these flats are apartments that can be owned after paying off the price over a 25-year period to the Fahi Dhiriulhun Corporation, similar to how other real estate companies offer long-term ownership options.

While previous housing schemes in the Maldives have been noted as social housing programmes, it's worth mentioning that in the most recent social housing scheme, "Hiyaa" project, the flats were considered the personal property of the recipients from the moment they signed the agreement. In addition to this, no down payment was required, and keys were handed over upon signing the agreement.

However, FDC has stated that under the ‘Gedhoruveriyaa’ scheme, a down payment of MVR 25,000 is required for the apartments. Fahi Union also reports that FDC said keys would not be handed over without the down payment.

Further, according to Fahi Union, the agreement with FDC stipulates that if rent is paid after the 10th day of each Gregorian month, a two-bedroom apartment with a rent of MVR 7,000 will incur a fine of over 100 percent, resulting in a total payment of MVR 15,000. For a three-bedroom apartment with a rent of MVR 9,000, a fine of over 170 percent will be imposed, resulting in a total payment of MVR 25,000.

Fahi Union stated that during his presidential campaign, President Dr. Mohamed Muizzu promised not to take back the flats given by the previous government and to provide them in an even more complete manner without changing the way they were intended to be given. After assuming office, Muizzu, citing the country's economic situation, reduced the rent for flats in Hulhumalé Phase I, Hiyaa flats, Vinares flats, and other social housing units across the Maldives. Fahi Union has called for a similar reduction in rent for these 4,000 flats.

Fahi Union noted that the previous government had signed an agreement between the flat recipients and Fahi Dhiriulhun Corporation to allocate the flats.

The agreement set the rent for a two-bedroom flat at MVR 5,000 per month, and for a three-bedroom flat at MVR 7,000 per month.