Managing Director of State Electric Company Stelco Ahmed Shareef says the company would be handing over the Stelco flats developed under the Hiya Housing Project to their recipients next month.
He said this in a meeting between the company's board members and Stelco staff.
Shareef said that initially the handover was scheduled for today but the date was later changed. He further said that all the details are now finalized and that the keys to the housing units would be handed over on the 6th of next month.
Shareef added that those who had received a flat would be able to move in starting that day.
The Managing Director had also announced the monthly rents for the 1 room and 1+2 rooms apartments released to Stelco staff.
He said that for 1-room apartments, the rent had been set at MVR 5,622 while for 1+2 rooms apartments monthly rent would be between MVR 10,356 and 10,652.
Shareef also said that for one year, Stelco would make any repairs related to the water and sewerage systems of the flats without a charge.
He noted that the company would not be taking rent during the interim period in which families would be allowed to move into their new flats.
Stelco's Managing Director said that no staff was awarded a flat outside of the guidelines set. He added that so far MVR 640 million has been spent on the project and once complete it could raise to MVR 700 million.
