The government has begun collecting security deposits for completed residential units under the Gedhoruveriyaa housing scheme, marking a key milestone in the handover of 4,000 new flats in Hulhumalé.
The Fahi Dhiriulhun Corporation (FDC), the state-owned company managing the project, confirmed that its online payment portal has been activated to process deposits. Beneficiaries who have already finalised their housing agreements are now being contacted to complete the next step. Officials noted that the current phase applies to flats where construction has been fully completed.
According to FDC, agreements have already been scheduled with 3,088 households, of which 3,032 have been signed. The corporation aims to finalise all 4,000 agreements by the end of September, highlighting both the urgency and the scale of the operation.
The eventual handover of apartment keys will depend on three requirements being met: the signing of the housing agreement, registration for utility services, and full payment of the security deposit.
Deposit amounts are set at USD 972.76 for two-bedroom flats and USD 1,621.26 for three-bedroom flats, to be paid in full. While no strict deadline has been announced, officials said the process would follow the same streamlined model used during the agreement signing stage.
The Gedhoruveriyaa scheme has also seen changes to its rental structure. Initially, monthly rents were fixed at USD 842.78 for three-bedroom apartments and USD 583.73 for two-bedroom units. However, a revised policy introduced a subsidy system for tenants who make regular payments. Under the new structure, rents are reduced to USD 583.73 for three-bedroom flats and USD 453.85 for two-bedroom flats.
Authorities say the subsidy is intended to ease financial strain on households while promoting a culture of consistent rent payments.
With the deposit collection phase now underway, thousands of families are one step closer to receiving keys to their long-awaited homes in Hulhumalé — a development officials describe as one of the most significant housing rollouts in the country’s history.
