INVESTMENT OPPORTUNITIES FOR PROPERTY DEVELOPERS IN MAURITIUS |
Integrated Resort Scheme (IRS)
The IRS is a scheme for non-citizens to become residents by acquiring luxury properties with a minimum investment of US$ 500,000. There are opportunities for property developers to engage in development of luxury villas and outstanding residential properties of international standards as well as high-class leisure and recreational facilities. These may include golf courses, marinas, wellness spas, beach club, hotels and commercial zones integrated within the resort.
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Real Estate Scheme
This Real Estate Scheme (RES) provides for the development of small and medium-sized plots of land ranging from 1 to 10 hectares. Such developments should ideally have a combination of luxury villas, apartments as well as commercial and leisure facilities. The RES is a unique scheme where foreign investors can partner with local land owners and property developers. Unlike Integrated Resort Scheme where price of properties should exceed US$ 500,000, there is no price restriction for the RES. In addition, properties developed can be sold to both foreign and local citizens.
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Luxury Resort Hotels
The Mauritius tourism industry is growing at an impressive annual rate of 15%. Tourism arrivals is currently around 1 M annually and is estimated to double to 2 M in 2015. To accommodate this fast growing industry, it is estimated that at least 25,000 additional rooms will be required. In addition, Mauritius being a very business friendly country, an increasing number of foreign investors and businessman are travelling to the island for business. There is thus interesting opportunities for the setting up luxury resorts
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Business Hotels and Convention Centres
With to its business-friendly and enabling environment, an increasing number of foreign investors and businessmen regularly travel to Mauritius for business, to attend events and to participate in fairs. There is thus a need for business hotels and modern convention centres to cater for this growing demand.
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Retirement Villages
Non citizen retirees providing evidence of sufficient funds (US$ 40,000 annually) are eligible to retire in Mauritius. This unleashes the potential for property developers to set up luxury retirement villages for non-citizen retirees.
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Healthcare and Wellness Centres
The extremely beautiful landscape and green environment of Mauritius makes it an attractive destination for the establishment of health resorts to provide a unique combination of luxury accommodation, wellness and holistic care activities such as weight reduction, body and beauty treatment and nature cure amongst others.
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Shopping Malls and Commercial Complexes
Factors like booming tourism industry, a fast growing economy, high net worth individuals acquiring property in Mauritius through IRS and RES have created a demand for luxury shopping. There is thus interesting opportunities for the setting up of shopping malls and commercial complexes to meet the increasing demands.
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Leisure Complexes
With the increasing number of tourist arrivals and also high net worth individuals immigrating to Mauritius, there is an immediate need for leisure activities. Opportunities include attractions such as amusement and adventure parks, zoos, safari resorts, aquariums, marine parks, casinos and gaming resorts.
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Marinas
The ideal location of Mauritius at the crossroads of Asia, Middle East, Africa and Australia makes it ideal for the setting up of marinas to tap the increasing yacht traffic. In addition, with IRS, an increasing number of high net worth individuals are buying yachts. With the limited marina facilities in Mauritius and the forecasted development of 4200 luxury villas by 2010, there are opportunities for the setting up of marinas. |
