India's TATA company's subsidiary, Sandal Mauritius, has successfully completed the construction of the One Central Park apartments in Hulhumalé and has handed over the apartments to their respective owners.
There are a total of 120 apartment units in One Central Park, sold for a price of MVR 2.2 million each.
During a ceremony held on Thursday, Minister for National Planning, Housing, and Infrastructure Mohamed Aslam highlighted the government's commitment to providing housing options for individuals in the middle income category through projects like One Central Park.
According to Minister Aslam, approximately 80 percent of the apartment buyers will have monthly payments of around MVR 20,000 as part of their loan repayment.
"Currently, a three-bedroom apartment is available for rent at this price. However, it is not your own place. Today, as you enter these apartments, they become your own private property," he said.
Apartment owners of One Central Park have now fully paid the sale price for their apartments.
Minister Aslam highlighted the significant demand for such projects, indicating that many individuals are capable of purchasing apartments at these price points. He emphasized that the government would continue undertaking housing projects with the goal of benefiting a wide range of individuals.
These apartments were completed within a period of two years. RCC was the contractor for the project.
Sandal Mauritius, in addition to the One Central Park project, is also involved in the development of a high-end housing project called 'Solitaire' in Hulhumalé. Under this project, a total of 64 apartments will be constructed.
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