Mauritian complex has new partner
INVESTMENT Villas Valriche in Mauritius has a new second investor.
ENL group CEO Hector Espitalier-Noël confirmed that its subsidiary Savannah Sugar Estates Co Ltd. has purchased the 40% shareholding previously held in the scheme by codevelopment consortium Secondlifestyle Investments Ltd, for an undisclosed sum. As such, the ENL group joins the development’s existing local partner Rogers and Co Ltd, one of the largest quoted companies in Mauritius, to assume total ownership of this luxury residential golf and beach resort located in Bel Ombre, on the stunning southwest coast.
“This transaction demonstrates our complete confidence in this world-class development,” says Espitalier-Noël. “Our family has had an active interest in the land on which Villas Valriche is situated for many decades, so the project is very close to our hearts and this move simply confirms our continuing long-term commitment to delivering our shared vision for this spectacular part of the island.”
International developers Secondlifestyle were brought into the Villas Valriche project at its inception to add their significant expertise in developing luxury residential estates, notably those built on and around golf courses in neighbouring SA.