PROPERTY MARKET IN MAURITIUS
P D S
Property Development Scheme
Located at the very heart of the Indian Ocean, Mauritius is an extremely appealing expatriation destination for professionals and pensioners alike. Won over by its pleasant living conditions and numerous tax benefits, many of them have already chosen to call it their home. The country also boasts numerous other assets such as economic growth and stability, a warm and friendly population, cultural diversity, a sunny climate, sandy beaches and a number of magnificent 18-hole golf courses dotted all around this piece of heaven on earth…
P D S
Property Development Scheme
The PDS replaced the IRS and RES in June 2015. It is a property development scheme which allows promoters to develop, on a minimum surface area of 4,200m2, complexes of at least 6 villas and/or flats, benefiting from common facilities and more or less customised wellness activities and services, in secure compounds with guard service.
The PDS is particularly designed for property promoters whose objective is to facilitate the development and sale of high-end residential units, mainly to foreigners.
APPARTS RDC + 2
In order to further open up the Mauritian economy, the “Non-Citizens (Property Restriction) Act" was amended in December 2016 to allow any foreign national registered with the Economic Development Board (EDB), and not only the holders of an occupation permit, to purchase one or more apartments.
Any non-citizen, having or not an occupation permit, a residence permit, a permanent residence permit, can now acquire one or more residential apartments in buildings having at least 2 floors in addition to the ground floor, upon presentation of a simple authorisation from the Economic Development Board (EDB).
Invest Hotel Scheme
An alternative to PDS in the hotel industry
Owning part of the hotel of your dreams in Mauritius!
The IHS programme, the "Invest Hotel Scheme", was set up in 2010. It allows the acquisition of freehold property that forms part of a luxury hotel in Mauritius; a hotel room, apartment or villa, managed within the context of a hotel complex. There is no minimum investment limit but the purchase of such properties does not entitle the owner to a residence permit, and the owner may not reside permanently on the premises.
Smart City Scheme
Building the smart, innovative and sustainable cities of the future
The Smart City Scheme concept: Work, Life & Leisure
"Work, Live & Play"
A "Smart City" is a city designed to harness the latest developments in communication and information technology taking place in multiple sectors.
The main aim of a "Smart City" is to optimise the use of available construction, transport, environment and/or governance infrastructure.
Smart cities must ensure the smart management of architectural infrastructure and provide up-to-date digital services, whilst enhancing the social and environmental dimensions of the project.
In theory, a "Smart City" is synonymous to luxury residences, perfectly integrated into their surroundings and, most importantly, equipped with cutting-edge technology. It exploits local citizens' skills whilst bringing great innovation in terms of digital services.
The office of the future: using technology to optimise visitor experience
Meetings are an integral part of business life. Studies have shown that the average employee spends almost 23 days a year in meetings, not including the time spent commuting to external locations. Yet, according to a new study, companies seem to be putting little effort in helping visitors make the most of these professional gatherings.
Smart buildings have been on corporate radars for some time now - a natural progression of the smart technology phenomenon, smart buildings have played a key role in the evolution of workspace design, with a particular focus on cost cutting, minimising environmental impact and maintaining energy consumption at the lowest possible level.
What better way to live out your golden years than to bask in luxury whilst leading a peaceful life?
Upon retiring, many people cannot wait to move to more exotic locations such as Mauritius.
They look for destinations that will help them make the most of their free time, in a healthy and stress-free environment.
With its variety of senior residences and attractive tax system, Mauritius is a haven that will make your retirement a fulfilling and serene one.
Life in a "Senior residence" is often viewed as combining the best of both worlds.
Vente en État Futur d'Achèvement
Mauritius is a former French colony with a legal system that abounds with notions inherited from its French ancestry, namely in the property sector.
As a result, the use of VEFA "sale in future state of completion" (also known as "off-plan purchase") contracts in case of property sales is mandatory in the country, and all foreign investors and/or Mauritian citizens who acquire property must sign a specific agreement in the presence of a notary in Mauritius, in accordance with the provisions of the Civil Code Mauricien, which itself complies with the French civil code.
The purchaser chooses the property based on plans, descriptive documents and graphic elements provided by the promoter-seller but does not participate in the construction process for which the promoter is entirely responsible.
The latter commits to delivering the completed property in accordance with plans and descriptive notes within a set deadline, and to taking all the necessary steps to do so (building permit, insurances, site supervision...).
CEO Alena Groupe.
Rabin Apavou, CEO of Aléna Group: "Mauritius wants to become more attractive for retired foreigners"
Involved in real estate developments and investments in Mauritius since 2011, Alena Group offers a wide range of services to foreign investors and expatriates. Rabin Apavou, CEO of the group, tells us more.
Head Real Estate EDB.
ECONOMIC DEVELOPMENT BOARD (EDB)
An economic facilitator playing a pivotal role
Born of the merger between the Board of Investment, Enterprise Mauritius and Financial Services Promotion Agency, the Economic Development Board (EDB) became operational upon the official publication of its statutes on 15 January 2018. The body covers all economic sectors and includes a department dedicated to the property sector, headed by Mr Sachin Mohabeer, who kindly accepted to answer some of our questions.
CEO Fontanel & Mône.
Noël Mône, Fontanel & Mône Ltd co-founder and CEO
Fontanel & Mône Ltd is a property development company that has its origins in France but set up operations in Mauritius 2 years ago. Thanks to a culture of integrity and accountability, it has managed to develop a vast network locally.
Interview of Noël Mône, Director.
Fondateur Fontanel Promotion.
FONTANEL & MÔNE
Construction that complies with French Overseas Départements standards.
For some two years now, the family-owned property development company, Fontanel, originally from the Lyon region in France, has been active in Mauritius.
Gérald Fontanel explains the reasons behind the extension of their operations to this new location.