70 IRS - RES sold to non-Mauritians during last twelve months

Published on the 04/07/2014

"70 IRS - RES sold to non-Mauritians during last twelve months. Despite the slowdown in the sector of construction, Pam Golding Properties has been performing well in 2013. Since the beginning of 2014, the company unveils a turnover of 15 %", states Peter Llewellyn, Director of Pam Golding Properties.

How is Pam Golding doing in Mauritius?
The past twelve months for PGP Mauritius has been promising with over 300 sales and letting deals successfully concluded. this includes over 70 IRS and RES properties sold to non-Mauritius citizens.

What has been the impact of the crisis and the slowdown in the construction sector in Mauritius on your activities?

The worldwide economic slowdown has certainly had an effect on all industries and it has been imperative that Pam Golding Mauritius has adapted with the fundamental changes that have occurred in the real estate market within the last five years. The buyers in today’s market are well-informed and well-educated on the property offerings available. therefore, PGP has worked tirelessly on ensuring that we can offer the public an excellent selection of properties and investments for completed residential property as well as off-plan local and IRS/ RES projects.

There has indeed been a slowdown in the construction industry but this has not only been witnessed within the real estate market but also within the commercial field as well. It can be argued that the residential market itself has seen less of a downturn in construction if you consider the large number of smaller local projects still on going around the island.

What has been the performance of your activities overseas?

Pam Golding Group has over 500 associate offices globally and continues to expand its presence into Africa with representation in Kenya, Zambia, Seychelles, Mozambique, Botswana, Zimbabwe and Namibia, and negotiations currently underway for offices in Nigeria and Uganda. With our increasing network into Africa, the Pam Golding Group can genuinely market property to a global audience.

There are a number of interesting initiatives on the African continent that Pam Golding Group is involved in. to name one example, the Pam Golding Properties Nigerian franchise has recently been mandated to market and sell 10,000 homes per year for the next 10 years, therefore a total of over 100,000 houses. Prices range from US$ 145,000 to US$ 350,000.

What are your upcoming projects in Mauritius?

The latest IRS projects launched by Pam Golding Mauritius is Le Parc de Mont Choisy Golf and Beach Estate situated in the sought-after Grand-Baie area. From a real estate perspective, the estate will comprise of approximately 500 units on completion, with the initial phase including 180 units. The range of property opportunities, combined with a competitive pricing structure, adds to the attractiveness of an investment at Mont Choisy. To date, 75 sales have been concluded with a total sales value of over Rs 3 billion.

The units that are available for purchase include spacious apartments, offering views of the 18-hole championship golf course, private villas with lushly landscaped gardens and the beautifully appointed and exclusive Stefan Antoni-designed Signature Golf Villas. Pricing starts from approximately EUR 460,000. As with all Integrated Resort Schemes in Mauritius, all purchasers will qualify for Mauritian Residency.

From a local project perspective, a niche beachfront development in Rivière Noire, the tides, will be launched shortly. Situated on an exquisite beachfront stand, it will be priced from Rs 15 Million. Salineo Apartments Phase 2 situated in Black River has recently been launched following the successful sell-out of Salineo Apartments Phase 1. Both Phase 1 and Phase 2 offer excellent value with well-sized and well-spec’d apartments in the Grand Baie region. Otera Beachfront Apartments Phase 2 situated in Trou-aux-Biches is soon to be launched following on from the successful sell-out of Otera Phase 1. Recently introduced to the market by Pam Golding Properties Mauritius, it is a new property concept aimed at Mauritian senior citizens: La Résidence du Parc. It is a serviced senior residence bordering the superb golf domain of Mont Choisy and major shopping malls and has been specifically designed to offer a unique quality of life to independent seniors.

With its 41 ground-floor two-bedroom villas with private gardens and 53 apartments and studios, La Résidence du Parc, inspired from French services residences, is an innovative concept in Mauritius where everything has been planned to cater for the residents’ daily welfare, security and quality of life. the high standard of its services, which range from day-to-day support (cleaning, laundry, shopping, transport, etc.) to medical assistance,makes this residence an ideal place to enjoy a peaceful retirement without the worries of daily living, which becomes more difficult as time goes by. the villas and apartments have been specially designed to offer our seniors an easier and better life.they are all equipped with an intercom system ; the rooms are bright, the doors wide enough to provide easy access for people with reduced mobility; the showers are level and the windows fitted with electric roller shutters.

A club area is available to residents, if they so wish, where they can spend relaxing moments, enjoy their friends’ company, meet with other residents, eat or enjoy the swimming pool and gym. the reception area is a real “village square”, the venue for encounters and contacts under the caring eyes of dedicated staff. La Résidence du Parc aims at being a warm and welcoming place with social encounters that gives seniors the opportunity to interact with others, which is often not the case with seniors. In addition to these qualities, La Résidence du Parc can provide an excellent return on investment through rental income.

What are your prospects for 2014?

Pam Golding Mauritius has had an excellent start to 2014 with turnover up over 15% from the same period of 2013. We have seen an increase in the number of foreigners purchasing on the island and have since January 2014 concluded over USD 8 million worth of sales at tamarina Golf and Beach Club. We expect the remainder of 2014 to continue to be a marked improvement over 2013 in both the local and foreign market.