African Union for Housing Finance Conference: Investment Opportunities in Mauritius

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Investment opportunities in Mauritius – Mr Ken Poonoosamy, MD Board of Investment, Mauritius. With more than 46 cities in Africa swelling to populations of a million people or more — and 17 of the …

Investment opportunities in Mauritius – Mr Ken Poonoosamy, MD Board of Investment, Mauritius. With more than 46 cities in Africa swelling to populations of a million people or more — and 17 of the world's 100 fastest-growing cities located in Africa — there is an acute need to develop housing solutions for so many urban residents. But raising the capital to meet that growing demand for housing remains a significant challenge. In 2013, the African Union for Housing Finance (AUHF) will host a conference under the theme "Raising Capital for Housing Finance.” The Africa-China Urban Initiative will organize a conference panel discussion on "Understanding (and harnessing) Chinese investment interest." Chinese investment in residential development in Africa is increasingly having an impact and demonstrating a track record of opportunity and experience. Panelists invited include Chinese investors setting out their experiences and expectations for the market and an African corporation that has received Chinese financing.

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  • 1. African Union for Housing Finance: Investment Opportunities in Mauritius 12th September 2013
  • 2. AGENDA Overview of Hospitality and Property Industry in Mauritius Sector Evolution & Main Developments Investment Opportunities Mauritius as a platform for Real Estate Investments Why Mauritius
  • 3. Overview: Hospitality and Property Industry GDP (2012) Construction Industry 6.3% Real Estate Activities 5.5% Number of Permits Issued (2012) Residential 6,081 Non Residential 475 Floor Area Covered (2012, 000 m2 ) Residential 1,037 Non Residential 150.20 Employment (2012) Construction 53,100 Real Estate Activities 900 Construction & Real Estate Activities 54,000 FDI (2012, USD $ million) Real Estate activities 170 Construction 59
  • 4. Sector Evolution and Major Developments Acquisition of apartment by permanent residence permit holders Opening up of Economy – Development of new IRS Framework 2006-2007 Development of RES Framework and introduction of RES Scheme IRS 2007-2008 RES Review of RES/IRS Framework 2008-2009 Introduction of IHS Scheme IHS 2009-2010 Acquisition of property by OP holders 2013 (Investor and professionals) Mixed Use 2011-2013 Anahita Domaine des Alizees Long Beach Grand Baie la Croissette Tamarina Tamarin Villas Ritz Calton* Bagatelle Mall of Mauritius Belle Riviere Sunset View in paradise Oberoi* Matala Grand Baie La Croissette Club Med Villa Valriche La Balise Marina
  • 5. Foreign Direct Investment in Hospitality & Property Development 234 250 241 198 212 185 FDI in Hospitality/ Property 150 103 7 7 2003 17 43 20 2006 93 87 41 2009 69 67 111 FDI in Residential Projects 2012
  • 6. Investment Opportunities Integrated Resort Scheme Development of high end luxurious villas Minimum investment amount – USD 500, 000 NO OF UNITS SOLD (2012) Real Estate Scheme Development of luxurious villas and apartments No minimum investment amount 17 Invest Hotel Scheme IHS Shared ownership through equity participation IRS Rooms or other part of the hotel can be sold to individual investors Ownership of hotel rooms or any other part of the hotel with a fractional undivided interest in the common areas 80 169 RES
  • 7. Investment Opportunities Marina and waterfront developments Urban regeneration project Mixed use private and commercial island development Hotels catering for Asian tourists New Areas of Development
  • 8. Financial Platform Structuring, administration and management of real estate and property investment vehicles for the region Property/Real Estate Funds Trusts Investment Holdings
  • 9. Financial Platform Capital Raising Venue for global property investors Internationally Recognised Exchange Possibility for Dual listings
  • 10. Why Mauritius Political & Social Stability Proven Jurisdiction of Substance Active member of COMESA & SADC World Class Regulations Innovative Investment Vehicles Pool of bilingual Professionals Eco-System (Stock Exchange) Fiscal Efficiency Risk Mitigation
  • 11. Thank You