Urbanco is set to officially hand over the keys to the Vinares Housing Project flats in a ceremony scheduled today evening in Hulhumale’ Phase II.
This government-backed initiative, a partnership with Urbanco, comprises 10 towers each standing at 13 storeys.
In total, the Vinares Housing Project boasts 1,344 flats, all of which are three-room apartments. The units span four distinct designs: Inner View, Outer View, Marina View, and Standard View. Of these, Marina View includes 172 apartments, Outer View houses 372 units, Inner View features 352 flats, and Standard View offers 448 apartments.
Earlier in February, Urbanco released the permanent list of beneficiaries. This was followed by the agreement signing for the flat allottees last month.
Each flat within the Vinares project is priced between MVR 2.52 million and MVR 2.59 million. Prospective homeowners had the choice of making a one-time payment or opting for monthly instalments spread over a period of 20-25 years.
Every flat within the project will be handed over upon the completion of all finishing tasks. Notably, the project also opens doors for those who declined offers from the Hiyaa flats and those who previously acquired land from Sealife and Gulhifalhu.