Urbanco says it has halted the sale of the remaining Vinares flats after the Vinares Portal encountered a technical issue when it opened the applications for the unsold housing units.
The Corporation said that it received numerous complaints about the technical issue after it had opened the application for the remaining flats yesterday morning.
It further said that the Corporation needs to weed through the complaints it had received and has decided to halt the application process for the unsold flats until these complaints are resolved.
Urbanco further said that it would open the application for the remaining house units at a later date and that it would publically announce the date.
The application for the unsold flats was opened at 10:00 a.m. Yesterday morning. The Vinares portal showed that 281 housing units had been sold and that 1,063 application forms were being processed.
Urbanco put up the flats for sale after many housing units were left following allocation to those who meet the requirements for the flats.
The Corporation had also cut down the interest for those paying for the flats via a long-term plan from 9 percent to 6 percent.
It said that this interest cut only applies to those paying the lease via a long-term plan.
Construction work for the Vinares flats began under the tutelage of former President Abdullah Yameen by the Chinese contractor CMEC. The flats were handed over to Urbanco in June of last year.
The 10 towers have a total of 1,344 housing units with a price range of MVR 2.5 million to MVR 3.5 million.
