Urbanco Sells Out All Unsold Vinares Apartments in Half an Hour

Urbanco’s Vinares flats successfully sold out all its remaining apartments within just half an hour of opening the sale at 10 a.m.

According to Urbanco’s official portal, when applications for Vinares flats were initially initiated, 281 apartments were reserved. There are no flats left for sale on the portal. Currently, there are 1,063 flats in the processing stage, with an additional 200 flats successfully booked today.

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Urbanco has announced that they will exclusively reopen the sale of flats for individuals whose applications were rejected today. The booking window for Vinares flats will reopen tomorrow at 10 a.m.

Vinares is a housing project comprising 1,344 three-room flats within ten 13-storey towers.

Key features of Vinares include:

  • Apartment sizes range from 883 to 1,395.64 square feet.
  • Payment options are available on an instalment basis, spanning 20 to 25 years.
  • Down payments are made in instalments until the project’s completion and the flat’s handover.
  • Urbanco provides flexible payment plans spanning eight to 25 years, with the option to take a bank loan.

Last month, interest rates for long-term payment approaches for Vinares flats were reduced from 9 to 6 per cent, a change expected to reduce flat buyers’ payments by approximately MVR 1.2 million over 25 years.

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