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Condominium apartments officially handed over to PMC | 09 July 2020

Condominium apartments officially handed over to PMC

Photo souvenir of the handover ceremony (Photo: Ministry of Habitat, Lands, Infrastructure, and Land Transport)

The government has purchased 42 condominium units at Ile Persévérance from the Seychelles Pension Fund at a sum of R68.5 million.

The purchase follows the announcement made by President Danny Faure in his state-of-the-nation address regarding government’s intention to purchase the apartments for the benefit of young graduates and to reserve some units for inner island graduates.

Due to current restrictions on public gatherings and requirement for social distancing, a short ceremony with limited guests was organised at Ile Persévérance on July 7, 2020 to finalise the sale and transfer process. Habitat, Lands, Infrastructure, and Land Transport Minister Pamela Charlette presented the chief executive of Seychelles Pension Fund (SPF) Lekha Nair the cheque payment on behalf of government. Minister Charlette also accepted the keys of all the units from Mrs Nair.

The ceremony also featured the signing of the transfer agreement between SPF and Property Management Corporation (PMC) by their respective chief executives – Mrs Nair and Evelina Antha.

This was followed by a tour whereby all the guests were able to see the apartments.

Presently, the condominium apartments are under the management of PMC while the department of housing within the Ministry of Habitat, Infrastructure and Land Transport will be handling the allocation procedures.

Constructed by Vijay Construction, there are 18 one-bedroom and 24 two-bedroom units. The one-bedroom units will be rented out while the remaining two-bedroom units will be sold upfront as condominiums to interested applicants.

Gated and secured, the condominium units are located on parcel number H11105 measuring 3,127 square metres at Ile Persévérance consisting of several communal blocks and once sold, unit owners will take part in the upkeep of common elements through a management association of which they will form part.

Press release from the Ministry of Habitat, Lands, Infrastructure, and Land Transport

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