
One Central Park developer hands over apartments
Aslam said there is a demand for such projects among the people and there are people who can afford to buy these apartments.
By
Fathmath Ahmed Shareef
The One Central Park flat project in Hulhumale, developed by an Indian company, has been completed and the apartments were handed over on Thursday.
Housing minister Mohamed Aslam and Sandal Mauritius (Assotech Realty) Managing Director Neeraj Gupta handed over the keys to the buyers at a ceremony held at the site on Thursday.
One Central Park:
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The land was awarded to Sandal Mauritius in 2016
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The company subcontracted the project to Rasheed Carpentry and Construction (RCC), a major real estate developer in Maldives, in April 2021
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The RCC completed their work in about two years
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120 apartments have been developed under the project
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The price of an apartment is MVR 2.2 million
Speaking at the ceremony, Aslam said the buyers of the 120 units have made payments in full. It shows, he said, that there is a demand for such projects among the people and there are people who can afford.
“... Looking at the terms of the loans offered by the lending agencies in Maldives, 80% of the borrowers have to pay about MVR 20,800 per month,” Aslam said.
"A three-bedroom apartment is already available for rent in the rental market at this price. However, it will not be your own place. You are entering the apartment today as your own home”.
Neeraj, managing director of Sandal Mauritius, said that in the two years it took them to complete these apartments, they faced a lot of challenges due to the Covid pandemic. Despite these challenges, the project was carried out with the intention of completing and handing over the apartments, he said.
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