Mau­ri­tian de­vel­op­ment of­fers is­land res­i­dency

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THE lux­ury of for­eign res­i­dency is af­forded to only a small mi­nor­ity of well heeled in­vestors. Those ac­cus­tomed to show­ing re­silience amid tough global eco­nomic con­di­tions, un­der­stand the wis­dom in lim­it­ing par­tic­i­pa­tion to sta­ble economies. Their de­sires range from idyl­lic is­land life­styles, to op­ti­mum cap­i­tal growth on in­vest­ments, prefer­ably within tax friendly en­vi­ron­ments.

Il­lus­trat­ing the small num­ber of in­vestors able to en­joy such in­vest­ment op­por­tu­ni­ties is the sharp de­cline in em­i­gra­tion. Statis­tics in the lat­est FNB prop­erty barom­e­ter in­di­cates dwin­dling em­i­grant num­bers. About 20% of home sell­ers had left SA since the sec­ond quar­ter of 2008 but a de­cline to just 2.7% was seen in the first quar­ter of this year.

Po­ten­tial prop­erty buy­ers, mean­while, have been at­tracted by the con­cept of Mau­ri­tian res­i­dency as well as ex­clu­sive hol­i­days within the se­cu­rity of ex­clu­sive golf es­tates, and rel­a­tively short air travel times. Jonathan Tagg of Pam Gold­ing Properties In­ter­na­tional and Projects Di­vi­sion says: “Over the past four years, at least 15 schemes have been built. The mar­ket has been both a value and a high-end en­vi­ron­ment that has bucked world prop­erty trends, with much of the de­mand com­ing off the back of the per­ma­nent res­i­dency buy­ers qual- ify for with pur­chases.” This di­vi­sion of Pam Gold­ing Properties has achieved over 302 unit sales at a to­tal value of more than $230m at var­i­ous res­i­den­tial de­vel­op­ments across the is­land.

Fol­low­ing de­mand from for­eign in­vestors is Pam Gold­ing Properties In­ter­na­tional and Projects Di­vi­sion’s lat­est is­land of­fer­ing. The newly launched Le Parc de Mont Choisy, sit­u­ated in a northerly west­erly lo­ca­tion at along Grand Baie’s “golden mile” pro­vides in­vestors with cap­i­tal growth of ap­prox­i­mately 9%, as well as po­ten­tial in­come earned from ex­ist­ing rental pools from the out­set.

An­drew Gold­ing, CEO of the Pam Gold­ing Prop­erty group, says: “We are op­ti­mistic about mo­men­tum in this mar­ket, be­cause it at­tracts ul­tra high net worth in­di­vid­u­als from French and cos­mopoli­tan ori­gins.” He says in ad­di­tion to this in­vest­ment op­tion with per­ma­nent res­i­dency of­fer­ings, Mau­ri­tius is rapidly be­com­ing renowned as a prime golf­ing des­ti­na­tion with a high de­mand for qual­ity es­tate liv­ing in the north of the is­land.

In his view, what is key to the sus­tain­abil­ity of such golf course es­tates is club mem­ber­ship, as seen in the in­ter­est at Le Parc de Month Choisy’s by more than 300 lo­cal golfers wish­ing to pur­chase deben­tures. Gold­ing says this unique penin­sula lo­ca­tion at Grand Baie now of­fers the coun- try’s first golf course on the north­ern part of the is­land with ocean views from both sides.

Com­mit­ment to qual­ity de­sign is seen in both the ar­chi­tec­tural and golf course de­signs. The vil­las and apart­ments pro­vide in­no­va­tive vi­sion for a con­tem­po­rary style of liv­ing. The golf course is de­signed by Peter Matkovich who has de­signed and con­structed some of SA’s finest golf cour­ses. There are eco-sen­si­tive fea­tures, in­clud­ing a de­sali­na­tion plant, waste wa­ter treat­ment ir­ri­ga­tion, and so­lar power sys­tems.

Buy­ers will en­joy free­hold own­er­ship within a de­vel­op­ment that is set on 1,200 acres of prime land. The first phase com­prises 24 vil­las and 57 apart­ments with prices rang­ing from $591,000, plus Mau­ri­tian res­i­dency. Le Parc de Mont Choisy will be de­vel­oped by part­ners 2 Fu­tures and Mont Choisy Prop­erty De­vel­op­ment Com­pany, now em­bark­ing on their sixth Mau­ri­tian prop­erty de­vel­op­ment, of which three res­i­den­tial and one com­mer­cial have been com­pleted. Sup­port­ing con­sumer needs of ex­pa­tri­ates are the re­cently com­pleted Grand Baie Busi­ness Quar­ter, and the Mont Choisy Shop­ping Prom­e­nade, lo­cated ad­ja­cent to the es­tate, as well as a num­ber of schools within close prox­im­ity. Con­tact: Pam Gold­ing Properties In­ter­na­tional and Projects Di­vi­sion 021 762 2617

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