Mauritian development offers island residency
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