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Archive -Seychelles

Pension fund invests in second residential apartments |05 July 2017

 

To help with the increasing demand for housing, the Seychelles Pension Fund (SPF) is investing in its second residential apartments which will be constructed on Ile Perseverance.

There will be three blocks of 18 one-bedroom apartments and four blocks of 24 two-bedroom apartments. They will be for ordinary people, like graduates who will be able to afford to pay R7000 for a one-bedroom and R12,000 for a two-bedroom apartment. The ground plus two apartments will be situated on the east side of Perseverance.

The apartments will be enclosed and well secured with security personnel at all times, lifts, car park for residents, an area for washing cars and one for washing clothes and will be beautifully landscaped.

SPF’s chief executive Lekha Nair said that with a demand for this type of residence, SPF had wanted to construct more affordable apartments as it has already ventured into high end residential apartments in the likes of Corail D’or at North East Point which is being rented at R25,000 a month.

According to Mrs Nair, the aim of the investment, in parallel with the increase in pension contributions by workers and employers, is to yield revenue to sustain the pension fund in the long-term future.

SPF project manager Tommy Marie said the project is in tender stage for piling and the construction will start in August 2017. The project is expected to be completed in eighteen months.

The SPF also owns the Praslin Holiday apartments, a self catering establishment at Grand Anse Praslin.  

 

 

 

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