Attention: property developers
Prime Development Property Up For Grabs in Mauritius!
The property is 358 ha in extent and it is situated on the northeastern coast of Mauritius. It is about a 30-minute drive from both Port Louis and Grand Bay. Driving along the east coast from the international airport, the property could be reached in about 35 minutes. The property is directly linked to the lagoon.
Two schemes could be considered within which the development of the property could be undertaken. In both these schemes, non-resident foreigners could be accommodated. The first is the Property Development Scheme (PDS), which replaced the Integrated Resort Scheme (IRS). The second is the Smart City scheme which applies to designated areas in Mauritius, which includes this property.
The Property Development Scheme (PDS) also provides a broader residential mix that includes luxury villas, apartments, and penthouses.
The aim of the Smart Cities Scheme (SMS) is to encourage the establishment of Smart Cities which entails a mixed-use development comprising office, business, residential, and entertainment components, which should be integrated with a coherent Master Plan focusing on innovation, sustainability, efficiency, and quality of life.
For the PDS and SMS, a residence permit under the Immigration Act is granted to the non-citizen upon acquisition of a residential property not less than USD 500,000 or its equivalent in any other freely convertible foreign or Mauritian currencies.
The purchase price for this dormant project would be US$ 86.7 million which excludes the costs of any new development permits.
The development could comprise the following:
• Residential units
• Retirement Village
• Two hotel sites and a commercial site including a clinic, retail & offices, and an educational site
• A Sports Academy site (47ha) and a cosmetic surgery site
This is an excellent project which will meet any accepted investment criteria and it will be an economically viable project.
Interested parties will be required to show financial capability before any details will be released. Full details of the property and proposed development options are available to qualified buyers.
