Condominium: First residents receive keys to new homes

Perseverance Point Condominium being developed by Green Tree Investment Company Ltd, a subsidiary of GICC, in partnership with the Ministry of Habitat, Infrastructure and Land Transport, welcomed its first residents last week. The owners were presented with the keys to their homes during a ceremony held on site on Saturday 11th August 2018.
This block comprises of 10 three-bedroom apartments furnished with built in wardrobes, vanities for the bathrooms, kitchen cabinets, a cooker, washing machine and solar water heaters. In addition, DSTV connection has also been installed.
The new homeowners have expressed great satisfaction with the quality of work on the units and the amount of living space available, which they claim is great value for money.
Construction work on a second block of three bedroom apartments for young professionals first time home buyers has started and the first two-bedroom block is expected to start in December 2018.
From then on, new blocks will be built as and when the Ministry confirms buyers for the units. Once all the blocks are completed, the Condominiums will be within a gated and secured estate with proper management of the common areas through a Management Corporation set up with all the buyers and the developer.  Each unit will have one parking bay, while additional parking space will be available for visitors.
A three-bedroom unit for graduates and professionals in the first block is being sold at SR. 1.5 million and a two bedroom at SR. 1.2 million. The floor area for a three-bedroom apartment is 130 m² and the two bedroom is 102 m².
​The Estate will also comprise of furnished luxury condominium units for the open market and the mock up should be ready for viewing by October 2018.