Bookings have been opened for the new luxury housing complex, “The Apollo Towers”, being developed in the reclaimed suburb of Hulhumale by local construction materials supplier Apollo Holdings Pvt Ltd.
The Apollo Towers, being constructed in the Yacht Marina area located on the northwest coast of Hulhumale for MVR 200 million, was inaugurated by vice president Abdullah Jihad and Apollo Holdings’ managing director Abdul Muhsin.
According to Apollo Holdings, prices of the luxury apartments range from MVR 1.1 – 7 million with a booking fee of MVR 50,000.
Apollo Holdings’ management accountant Ahmed Ali Habib told Mihaaru that interested buyers can purchase the apartments via Housing Development Finance Corporation (HDFC).
“After an advance payment of 20 percent and HDFC’s process stages, they will be registered for the loan. We’re looking to complete the work and hand over the flats to buyer in 2018,” he said.
The company disclosed that two towers of nine storeys and ten storeys are being developed in a land plot measuring 121,397 square feet. The towers will feature three types of apartments with semi deluxe, luxury and penthouse.
The Apollo Towers will consist of total 97 flats with 61 semi deluxe apartments, 28 luxury apartments and 8 penthouses.
The apartments measure between 457 to 2,433 square feet with three rooms, two rooms or a single room. Other facilities at The Apollo Towers include a children’s play area, gym, multi-purpose hall and a parking area.
Apollo estimates that their new apartments will be completed in 2018.