Housing Development Corporation Limited (HDC) has announced that the previously unsold units of the Vinares flats in Hulhumale’ Phase II were purchased after being reopened for applications.
HDC revealed that a total of 123 unsold flats were made available for sale. The opportunity to submit applications was reopened on November 5 at 1000hrs. HDC stated that all the flats received applications within the first hour after the reopening. Interested individuals had the opportunity to choose an apartment number and submit their application forms through the HDC portal. Currently, HDC is in the process of reviewing the submitted applications, with the eligibility of applicants to be determined during the evaluation.
HDC announced the reopening of unsold flat sales due to some applicants facing challenges in meeting financial obligations or participating in the allotment session, resulting in the rejection of their applications. The company attributed the decision to the expiration of deadlines for completing stages, all of which concluded by the end of October.
The prices for the housing units in the Vinares flats fall within the range of between USD163,000 and USD168,000. These flats are available under two payment options, which are a lump sum payment or monthly installments spanning 20-25 years.
The Vinares housing project comprises 10 towers, encompassing a total of 1,344 housing units, all of which are three-room apartments. The flats are developed in four distinct concepts: 172 marina view flats, 372 outer view flats, 352 inner view flats, and 448 standard view flats. The marina view apartments offer a scenic view of the yacht marina and cruise terminal, while the inner view apartments provide a glimpse of the main roads. The outer view offers a cityscape, while the standard apartments are situated in the middle of the towers.
HDC split the recipients of the Vinares flats into two categories. They include 1,058 residents of Male' City and 257 individuals who have lived in the city for over 15 years. HDC released the permanent list of flat recipients in February this year. As such, several payment providers have entered into agreements and commenced the process of handing over keys to the recipients.