A new project of major infrastructure will get out of the ground this year: Plaisance Eco-city, to the cost of an investment of Rs 4 billion. This sustainable city, including apartments for the middle class, a Business Park and a Hotel (First Class Hotel) will be autonomous in electricity, powered by solar panels. This is the very first project of the genre to be developed on the island of Mauritius – 100% eco-friendly!
How did the project start?
This project aligns itself to the vision of the government for a greener Mauritius - Maurice Ile Durable - and at the same time will be an example for countries around the world still struggling with sustainable development. The promoter of the project, Patrick Arnaldi, wanted to contribute to the economic landscape of the country, being already familiar with Mauritius. Seeing that the airport zone, even after the upgrade, still felt empty - he decided to make a change. He aﬀirmed that he " wanted to leave a trace in this wonderful country by establishing a product designed for Mauritians - 100% Mauritian". Besides, this is the main reason why he did not opt for the design of a 'smart city'. The accommodations cost around Rs 3,4 million rupees, with a 'Business Park' next door where traders can take advantage of the facilities along with a hotel in the vicinity.
"Despite the proximity to the airport, the surroundings are not endowed with significant developments", says Mr. Arnaldi. " This will be an opportunity to oﬀer work to people from surrounding villages. In fact, the creation of about 1000 direct and indirect jobs are anticipated. Projects are beginning to surface in this region of the island, and this will surely help for the further development of the southern region of Mauritius."
Why an Eco-City?
The Ecocity project, to be undertaken by Plaisance Estates Ltd not far from the airport, will require investments of Rs 4 billion. According to Mr. Arnaldi, Plaisance Eco city will be a model in line with international sustainability standards and thus lay the groundwork for a new Mauritius, where ecology has a prominent place. This innovative and attractive model will provide present and future generations an improved quality of life and the vision of a sustainable Mauritius.
Is it only for Mauritians?
Mr. Arnaldi, although insisting on the fact that it is a 100% Mauritian project have also secured another target market - since a new law has been introduced in December 2016 – non-residents are allowed to buy an apartment at the minimum cost of 150 thousands Euros. The project has now also been geared towards non-residents willing to have an apartment on our island.
What is the new law about?
Plaisance CIty has a special status which is neither Smart city, RES, PDS or IRS simply because the project falls under the new legislation of the Non-Citizen Act passed on December 20, 2016, allowing foreign investors to acquire an apartment on the island of Mauritius in a residence of more than two floors, for a minimum amount of 150 000 Euros.
The “Non-Citizen Act” states the following:
The Non-Citizens (Property Restriction) Act has been amended on 20 December 2016 to allow foreigners to purchase apartments in condominium developments of at least two levels above ground (G+2) with the prior approval of the Board of Investment. The amount payable for the acquisition of an apartment must not be less than Rs 6 million or its equivalent in any other freely convertible foreign currency.
Any non-citizen, with or without an occupation permit, residence permit, permanent residence permit, may acquire apartments.
Thus, there is no restriction for non-citizens who wish to acquire:
- a residential unit developed under the IRS, RES and PDS
- a residential unit developed in a smart city
- an apartment located in a building comprising at least two floors above the ground floor.
Benefits of choosing Plaisance City Appartments?
"100% of the common electricity needs of the area will be produced through wind turbines units that will be part of the project. Thus, depicting the name "Ecocity". Moreover, with such competitive prices, you will surely save more than you think while investing in such a valuable property. The return on investment will be rapid and this again joins the "Eco-City" brand which associates both Ecology and Ecomomy", explains Mr. Arnaldi.
The south-eastern region of the island provides for a very easy access, the project is also an investment in a forced area to expand, as the center of the island will soon reach saturation point. It also oﬀers unique benefits. "It is 1 km from the beach of La Cambuse, 2 minutes by car, 10 minutes by bike, 30 minutes by foot. We find ourselves in a working area that will experience an extraordinary development with a superior quality of life, with several restaurants, gymnasiums, spa, a panoramic swimming pool with sea and the surrounding mountains ", explains Mr. Arnaldi. And most importantly, all the buildings are close to the airport which will generate an increasing traﬀic of passengers.
Plaisance Estate -Phases of the Project
The first phase of the project remains the apartments. The construction will continue with the Plaisance Business Park, a building which will accommodate for oﬀice space. Phase 3 of the project will be the First Class Hotel which will be a 3 Star hotel that will cater for the needs of businessmen. Promoters promise futuristic buildings which will make optimum use of day-light and the air passing through, for lighting and air conditioning. These buildings will be largely autonomous in renewable energy.
Moreover, the promoters insisted on the fact that the region will be a city of its own with basic requirements in the vicinity of the buildings such a - Nursery, Shops, restaurants and many more will be available. All three phases, will form Plaisance Estates, a group of residential apartments for Mauritians and those with a residence permit along with oﬀices and a hotel - a small city in itself.
"Real estate remains a value. There are still great opportunities. "
Faced with the land release of many luxury real estate projects, Patrick Arnaldi is not afraid of a saturation of the market? "No. Real estate remains a value. You have to be careful, to ensure the quality of the construction. There are still great opportunities. "
When is construction scheduled to begin?
To note that more than a hundred owners have bought an apartment in Plaisaince Eco-city, in less than six months - Patrick Arnaldi said. Work is scheduled to begin in the 3rd quarter of 2017, and over 10% of the project concretization will be allocated to small contractors. The start of the works has been postponed due to some issues related to architecture but Mr. Arnaldi remains confident that there will be no re-scheduling.
Stay tuned for more information about Apartments in Mauritius!