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PMC Bond to be issued as from January 27 | 22 January 2020

PMC Bond to be issued as from January 27

(L to r) Ms Antha, PS Thésée and Ms Rosette during the press conference yesterday (Photo: Joena Meme)

Priority reserved for individuals for 30-days

As announced in the 2020 National Budget Speech, the five-year Bond for the Property Management Corporation (PMC), which is being guaranteed by the Government of Seychelles, is to be issued on January 27, 2020.

The bond, worth R200 million with a fixed earning rate of 5 percent per annum is being issued and managed by the Central Bank of Seychelles (CBS) and is applicable to both residents and non-residents, provided they hold an account with a local commercial bank.

Providing more details on the issuance yesterday morning, principal secretary for Finance, Damien Thésée, director of Financial Markets at CBS Gina Rosette and chief executive of PMC Evelina Antha, explained that proceeds from the sale of the bond is to finance various housing and re-roofing projects under the PMC and the purchase of the Ile Perseverance condominium project from the Seychelles Pension Fund (SPF).

Task force set up to nip crime in the bud at Perseverance | 15 January 2020


Task force set up to nip crime in the bud at Perseverance

A task force made up of Perseverance residents to prevent crime met yesterday afternoon at the Perseverance 1 district administration to discuss the crime rate that has spiked up in the small community.

The meeting was attended by a few members of the crime watch; the chief executive of Property Management Corporation (PMC) Evelina Antha; the assistant Superintendent for Perseverance and Anse Etoile, Vincent Marie; the inspector for Perseverance, Marie-Antoinette Gedeon; and the district administrator of Perseverance 1, Andre Gabriel.

The objective of the meeting was to discuss and find a solution to the ever growing criminal activity and nuisance that has been affecting the district.

“This meeting is a chance to meet the various stakeholders that we are working with and discuss on the issues affecting Perseverance right now because if we don’t tackle the problem early Perseverance will turn into an area where families will not want to live,” stated the district administrator.

On her part CEO Antha noted that they have a system where residents can put forward their concerns, however residents must take it on their own and sort out some of their issues so this initiative of crime watch is very much welcome.

The ASP of Perseverance noted that since he began working in the district early last year he felt it was necessary to set up a crime watch in Perseverance as the initiative has helped in reducing crimes in other districts.

“In the month of August, September and October there was a huge spike in crimes being committed in Perseverance but after the crime watch was set up there was a reduction especially in November and December,” said ASP Marie.

Also in attendance at the meeting were a few concerned citizens who aired out some of their grievances.

One of the main concerns that a few residents put forward was the drug problem that is on a rise. One resident noted that drug users are roaming the streets at night looking for their next fix.

Another issue that was brought up was that these same drug users are breaking into empty prefab houses and vandalising the property or squatting there for days.

Another concerned raised by many people was the fact that small children are on the streets late at night either because their parents are drug addicts or just as a result of mere irresponsibility.

Flavie Cetoupe, a member of crime watch, said the initiative behind crime watch is to help reducing the amount of criminal activity in their district because they want to take back their community.

“I hope that people are committed in helping the crime watch and work with us for the betterment of our district and safety of our house and family. The population of Perseverance is getting bigger so it is important that we tackle the situation early,” said Ms Cetoupe.

The accompanying photos taken by our photographer Joena Meme show some highlights of the meeting yesterday.


Christophe Zialor


PMC continues efforts to reduce backlogs in transfer of properties

PMC continues efforts to reduce backlogs in transfer of properties

As more people are doing their part in paying off their government flats and houses, the Property Management Corporation is increasing its efforts to ensure that properties that have already been paid in full are transferred to their tenants.

In this regard, the Property Management Corporation (PMC) on Tuesday witnessed a group of 17 customers out of 30 who have completed the payments on their condominium units sign the necessary transfer documents and officially become home-owners.

Fourteen of the units were two-bedroom units at Roche Caïman, while the rest included units on other estates.

Some of these new home-owners had completed payments quite a few years ago but due to complexities of the Condominium Properties Act they faced a delay in transfer of ownership.

According to PMC’s chief executive, Evelina Antha, this had resulted into a considerable backlog of untransferred paid units.

“The Condominium Properties Act, established in 2006, was amended in 2014 but we were not ready for all the procedures that came with these amendments,” Ms Antha explained.

“For instance, for someone to receive their property deed under the law they first need a copy of the plan of their units. But there are no plans for the flats that were constructed over 20 or 25 years ago, so when these tenants complete their payments we have to go back to the drawing board to draw up a plan for them.”

She noted that this takes a long time because PMC does not possess the internal resources to draw these plans and hence have to pass on this responsibility to the land surveyors at the Ministry of Habitat, Infrastructure, Lands and Transport, who already have a lot on their plate.

“We also have to receive retrospective approval from the planning authority, register the plans, send them over to our lawyer and, on our side, we have to ensure that every detail are accounted for and updated,” she further explained.

PMC started its first transfer process in 2016 during which it transferred 16 units at Bois Blanc, St Louis and Mandarine Estate, Au Cap.

Meanwhile, in 2018, the corporation transferred around 30 out of 40 units that had been paid in full. These units were located at Roch Lane, Bel Air, Chetty flat, Anse Aux Pins, ex-Geers, St Louis and ex-Pierre Hoareau, English River.

Ms Antha added that “some people have finished paying for their houses more than 10 years ago and are awaiting their transfers so we are under pressure to make this happen”.

“We know that there are tenants who recently completed their payments, such as those residing in Persévérance, but they have to wait for us to deal with the backlog of transfers before they get their turn.”

Ms Antha advised tenants who wish to sign the deed documents on behalf of the property-owners who are not in the country or who are incapacitated, to have their necessary documents such as affidavits on hand.

The same applies in instances wherein the initial applicant has passed away and another party is signing the documents.

It is to be noted that prospective homeowners of PMC properties have a period of 25 years to pay for their homes.

Although a PMC property is transferred onto a tenant, the person still has to abide by the rules and regulations prescribed by PMC in their transfer agreement.

 [Source: Seychelles Nation]

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