LocalGovernment

HDC to Earn MVR 32.9 Million Annually by Selling Parking Slots in Public Streets

20/09/2024

Zain Rasheed

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Housing Development Corporation (HDC) has announced the sale of over 1,350 parking slots on public roads in Hulhumalé Phases 1 and 2, expected to generate MVR 2.7 million monthly, and MVR 32.9 million annually. These parking slots, previously free for public use, are now priced at MVR 2,000 per month, with a lease deposit of MVR 6,000.

The decision appears to be part of the government's efforts to generate revenue as the country struggles with significant debt, rather than addressing the parking issues in the Greater Malé area, as was previously pledged. Most of the slots being sold are located on roads in residential areas, which were initially intended for public use.

This move has sparked criticism, with many pointing out that it contradicts President Dr. Mohamed Muizzu's earlier pledge to create free public parking options. The sale of public road spaces for exclusive use by paying customers may worsen the congestion in Hulhumalé, limiting access to those who can afford the parking slots while leaving others without viable alternatives.

Dr. Muizzu faced similar backlash when he sold parking spaces during his tenure as the Mayor of Malé, drawing heavy criticism for reducing already limited public road space.

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