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A commitment to balance growth with social responsibility is a strong dictum amongst the property developers in Mauritius. This social dimension firmly in place is exceedingly important for buyers or investors in the island’s developments. It helps ensure that their property holdings are in total harmony with the surrounding communities.
Specific government guidelines are in place to elicit social contributions from the various real estate developments in Mauritius. These were first spelt out in the Integrated Resort Scheme (IRS), the government’s initial programme to attract foreigners to invest in the development of the island’s real estate properties.
The government requires IRS proponents to submit a Social Impact Assessment (SIA) report as a prerequisite for project approval. The developer appraises in its SIA the effects of the proposed project to the immediate communities.
After its SIA report, the developer presents a social needs analysis and its proposed contribution to address those community needs. The government examines all these and approves the social contribution of the IRS property developers in Mauritius.
The government calculates this contribution at the rate of MUR200,000 per residential property. The developer’s contribution comes in terms of social amenities, community development, and other means benefitting the community. People training is one weighty area of coverage. It has to account for at least 25 per cent of an IRS project’s social contribution.
The development of Mont Choisy Le Parc, an IRS project of 2Futures, has brought about splendid samplings of these initiatives. The SIA of its area identified social contributions focused on education, training, entrepreneurship, and development. Other priorities listed were health, leisure, sports, culture, and environment.
The social development contributions already extended to communities near this IRS project cover those addressing education and health. These included collaboration with non-governmental organisations on the improvement of neighbourhood schools and community centres. Sponsorship of special school events helped further generate community goodwill.
Another social contribution entailed the upgrading of some local community sports and leisure facilities. This saw the rehabilitation of a football pitch and a volleyball court. Two new children’s playground and a jogging track were also constructed.
For 2Futures, contributing to social development goes even beyond legal requirements set for property developers under programmes like the IRS. Since its foundation in 2007, this no. 1 developer in the country has espoused CSR not only in its projects. It pursues broader social programmes like its relief efforts during the lockdown due to the coronavirus pandemic.
The harmony of property developments with its host community is an important factor to consider for home buyers or investors. Let a 2Futures consultant walk you through on the top choices in this respect. Besides IRS properties, 2Futures offers home builds under other schemes. Book an appointment today.