President Danny Faure witnessed the handing over of newly completed housing units to 10 families this morning, as part of the second phase of the Ile Perseverance Point Condominium project. The Ile Perseverance Point Condominium is located on the northern side of Ile Perseverance, bordering the lagoon facing Ile Aurore.

In a short ceremony, 10 Seychellois families received the keys to their new homes in the presence of invited guests, relatives and existing tenants of the first block of Ile Perseverance Point Condominium. The first three-bedroom block of 10 units for graduates and young professional first-time home buyers was handed over to the tenants in August 2018. Construction on the second three-bedroom block started in March while the first two-bedroom block will be allocated towards the end of 2020.

The project is an initiative of the Ministry of Habitat, Lands, Infrastructure, and Land Transport (MHILT) to accelerate the provision of affordable housing in a convenient location for returning graduates and young Seychellois professionals who are first-time home-owners. It was done in partnership with Green Island Construction Company (GICC), a subsidiary of IDC and 100% government-owned company. GICC created an investment company, Green Tree Investment, to invest in the condominium project. 

Addressing the new homeowners and guest present, the CEO of IDC Mr Glenny Savy, congratulated the new tenants on the beginning of their new journey whilst reaffirming GICC’s commitment in continuing to support the Government in its efforts to provide a home for every Seychellois.

The entire development consists of 157 units: 100 units of two-bedroom and three-bedroom apartments, and 57 luxury apartments. Each block of standard apartments will have 10 units, with 5 blocks of two-bedroom apartments and 5 blocks of three-bedroom blocks. So far 2 blocks have been completed. The luxury apartments will be divided into 3 blocks of 19 units each. All 3 luxury blocks will be identical and contain a mix of one top-floor studio apartment, one-bedroom, two-bedroom and three-bedroom apartments. To date, Green Tree Investment has built one luxury block of 19 apartments, for sale on the market. 

Also present for the handing over ceremony was the Minister for Habitat, Lands, Infrastructure, and Land Transport, Mrs Pamela Charlette, the Principal Secretary for Housing, Mr Denis Barbe, the IDC Chairman, Mr Patrick Berlouis and Chief Executive Officer of IDC, Mr Glenny Savy