Luxury apartments unveiled
Category News
Louie Ville Horizon, a block of 200 residential units was handed over to owners last week in a glamorous ceremony. The high density, yet luxurious block of residential flats are located in Block 8 in Gaborone. Their plan was adapted from India.
The flats, which are also located in a well-lit area, have a wide common entertainment area with a fountain, shade, swimming pool and security guards. There is also a gym for tenants and a children’s mini park with swings.
Developer and managing director of ODE and E-man Enterprise, Theo Emmanuel who is an investor from India has likened it to America’s Los Angeles. Emmanuel who fi rst came to Botswana in 2002 partnered with Manhar Mooney, a local businessman to start the project with fi nancial assistance from local banks.
The 200 units cost a total of P125 million. Emmanuel said property had a high potential of bringing economic development to the country. Mooney explained that the high-density residential property was a common thing in India and they had realised that the plan would work well in Botswana where there is shortage of land. “We specialise in developing property of this nature having experienced it first hand in the highly populated India.
It has proven to be economic and affordable hence the majority of the units here were sold out even before the construction was completed.” He said the repetitive design of the units saved them costs and they managed to purchase materials at discounted prices in bulk.
This was not the company’s first or last residential property development in Botswana as they have Louie Ville One in Block 6 built seven years back and has had its value triple from those year. The company is currently building similar properties along the Oodi Modipane road and another block in Gaborone North. Mooney also hinted that they are to venture into hospitality business in the property manner. The property has created over 1000 jobs during its construction. During the handover of the property, Mooney encouraged the homeowners to take good care of the property for it to appreciate in value. The guest speaker, Minister of Labour and Home Affairs, Edwin Batshu said the property was a great development to the city’s scenery.
“As new shopping complexes emerge in the city, they need to be augmented with good quality residential properties such as this one. Investors come into our country and we need to have proper accommodation for them. The Diamond Trading Company’s relocation to Botswana means more people will come and work here and need a place to stay. This high quality property will also encourage and set a high standard for future developers.”
Author: http://www.botswanaguardian.co.bw/more/property/631-luxury-apartments-unveiled.html