Investing is secure in property development in Mauritius

Real estate projects in Mauritius have earned the deep trust of foreign investors, recent statistics indicate. Transactions under the government’s real estate schemes open to foreign buyers totaled MUR73.7 billion from 2005 to 2018. These involved some 2,700 transactions under the Investment Resort Scheme, Real Estate Scheme, and the Property Development Scheme.

The total involved some 2,700 transactions under these schemes  In 2019, investments in these programmes hit MUR14.03 billion, up 74 per cent from the MUR8.06 billion, Bank of Mauritius figures show.

Projects under the IRS, RES, and PDS have also proliferated since the government allowed foreign buying in these developments. At the last count, these developments are nearing the 150 mark in the island.

High-quality developments

Ki Residences is one of the newest amongst these developments. This market entry of 2Futures, the no. 1 luxury real estate developer in Mauritius, is drawing keen buying interest. As a PDS project, it offers permanent residence eligibility to foreign buyers purchasing its apartments or penthouse priced from USD375,000.

Moreover, living in Ki Residences also brings in the nearby amenities of Grand Baie Village and those of 2Beach Club in Pereybere. This club provides a fresh seafood restaurant, a spa, plus a range of watersport activities.

As satisfying for investors, projects like Ki Residences are subject to close monitoring.  Such strict watch is being undertaken so as to protect the interest of buyers.

At the outset, the government is tightly screening companies applying for their projects’ inclusion in the real estate development schemes. The developers chosen are only those with extensive experience and a solid track record in the real estate industry. Scheme-registered projects also need to have sound financial guarantees and decennial liability insurance coverage.

Environmental safeguards

Additionally, environmental protection is also factored in the projects on property development in Mauritius. Protecting surrounding ecosystems of the properties goes into the planning of each project.

Hence, developers have to include environment-friendly elements in their projects to ensure their approval under the real estate development schemes. These inputs include solar panels, water collection, green spaces, optimum ventilation and light structures.

The developers have to spell all these out in their plans and blueprints in order to secure the required building permits. Certain projects likewise require an Environmental Impact Assessment before they can proceed.  These include Hotel or Invest Resort Scheme developments having its first boundary within 1 kilometre of the high water mark.

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