WORDS: DEBBIE HATHWAY :: PHOTOS: SUPPLIED
In an era where innovation and sustainability are paramount, the smart cities of Mauritius stand as beacons of modern urban living.
As a proactive measure towards future-focused investments and progressive modernisation, the government of Mauritius has been promoting and encouraging the establishment of smart city projects across the island in recent years. Its goal is to position Mauritius at the forefront of the smart city domain, symbolising its commitment to advancement.
Mauritius’s Economic Development Board (EDB) collaborates closely with private enterprises, nonprofit entities, and academic institutions to execute these ventures, which collectively aspire to enhance the nation’s effectiveness, sustainability, and competitive edge. To that end, in this year’s Budget Speech 2023-2024, Dr. The Hon. Renganaden Padayachy announced the extension of the time limit for the acquisition of one plot of serviced land by resident non-citizens in a smart city or a Property Development Scheme (PDS) project up to 30 June 2026.
Bijou penthouse terrace
Ken Poonoosamy, CEO of the EDB, commented in the organisation’s Budget Newsletter that the real estate sector, in tandem with the construction sector, offers diversified asset classes and is well positioned in the global property market. Last year, private sector investments in the construction and real estate sectors stood at MUR 38bn ($842,051,880). In contrast, foreign direct investment in the real estate sector witnessed impressive growth with over 600 sales under-regulated schemes amounting to MUR 15.4bn ($341,252,604).
“The real estate and construction sectors are expected to grow in 2023 with large private investment projects in office, commercial, mixed-use and residential buildings including the Montebello Mall, Ferney Smart City, Decathlon, Motor showroom, Harmonie Villas, Secret Villas, Le Peninsula, LP Residences, Phoenix Gardens, Afrasia Tower, Anahita Beau Champ residential, Savannah (Les Sentiers), United Docks Tower 100, US Embassy campus, Telfair development, amongst others.”
Mango penthouse terrace
INVEST FOR PERMANENT RESIDENCY
Philippe de Beer, CEO of leading Mauritian real estate agency Park Lane Properties, says the Smart City Scheme (SCS) has opened an additional door for foreigners who wish to gain residency in Mauritius by acquiring a residential property. “Quite simply, if you invest a minimum of $375,000 in any smart city apartment, penthouse, townhouse, duplex or villa, you will be eligible for a residence permit for yourself and your family.”
The smart cities in Mauritius embody expansive mixed-use complexes meticulously crafted around the tenets of New Urban Living, encompassing the seamless integration of residential, work and recreational spheres. These innovative enclaves harness intelligent technologies and eco-friendly energy solutions, serving as advantageous assets for inhabitants, merchants, and enterprises in equal measure.
“High-end residential estates offering a variety of housing options are embedded in these integrated developments, which also contain innovation-driven businesses and retail, leisure and sporting amenities to ensure a sustainable, attractive, pedestrian-orientated environment,” he says.
The SCS lays the groundwork for diverse investment opportunities, garnering significant attention due to Mauritius’ burgeoning reputation as a global centre for finance and commerce. This concept presents a platform for corporations, trusts, and individual investors to create and fund essential infrastructure for pristine smart city locations. This encompasses the development of green-field sites and the comprehensive integration of office spaces, light industrial zones, educational facilities, healthcare establishments, tourism ventures, technology hubs and innovation clusters.
“But it is the possibility of acquiring residence by investment in a Smart City home that has really piqued the interest of foreign investors, especially in SA and other African countries, where many affluent individuals are now following the worldwide trend of seeking second and even third residency options. And as the leading Mauritian luxury real estate company, we have many suitable listings to appeal to such investors.”
Mango terrace and interior
FROM PENTHOUSES TO APARTMENTS
You can buy a 478m² four-bedroom penthouse in the Bijou development of the Cascavelle Smart City for $900,000. It features a private pool and an indoor garden as well as an open-plan kitchen, dining and living areas that flow effortlessly to a wrap-around balcony perfect for outdoor dining and entertaining, with scenic views of nature as a stunning background. However,a two-bedroom apartment in the same complex offers an open-plan kitchen, dining and living areas separate from a large balcony and some awe-inspiring views. Priced at $400,000, it comes with modern finishes, airy interiors and two covered parking bays. At the Moka Smart City, you can buy a luxurious three-bedroom, three-bathroom apartment for $699,000. Here, apartments at Bagatelle Residences have a kitchen with a scullery and pantry, open-plan dining and living areas leading to a covered balcony, two covered parking bays and a storage unit. The complex is in a gated community with peaceful and scenic surroundings.
Bagatelle apartments
Superb penthouses in the Beau Plan Smart City are for sale at $613,000. These residences at the heart of a natural estate are connected to a lake, offices, shops and leisure spaces by walkways and cycling lanes. Buyers can customise their living areas to suit their requirements and enjoy everything they need for smart living right on their doorstep. Park Lane Properties has the local expertise and global perspective needed to provide clients with a smooth and swift path to residency, and to further assist those in SA, the company has appointed international relocation expert Leana Nel as its local representative.
For more information about the SCS residency option and other real estate residency options in Mauritius,
contact Leana at leana@parklane.mu or +27 83 777 9104
