In collaboration with the government, HDFC manages and administers social housing schemes under which the Company, as a custodian receives funds from the Ministry of National Planning, Housing & Infrastructure (MNPHI). Schemes managed by HDFC:
Ministry of Housing and Infrastructure - GED Islamic fund
Ministry of Housing and Infrastructure - MHI Islamic fund
Ministry of Housing and Infrastructure - MHUD Conventional fund
Ministry of Housing and Infrastructure - 704 - Conventional fund
Ministry of Housing and Infrastructure - CMEC - Conventional fund
Gedhoruveriyaa Loan
On 5th November 2024, the government of Maldives announced the Hiyaavahi Scheme.
– Hiyaavahi Rahvehi: Low-interest loan scheme to build homes in the atolls. No equity will be required for the loan. The loan is repayable over 25 years at five percent interest.
– Hiyaavahi Saharu: Low-interest loan scheme providing up to MVR 3 million for the construction of homes in urban centers. The loan will be issued at five percent interest and will have a repayment period of 25 years.
– Hiyaavahi Furamale’: Low-interest loan scheme providing up to MVR 6 million for home construction in the Male’ area. Plots smaller than 600 sq. ft. can be combined with additional small plots, with MVR 1 million added to the loan amount for each additional plot, up to a maximum of MVR 10 million. The loan requires 10 percent equity, carries a 5 percent interest rate, and is repayable over 25 years.
