Two years after its setting up in October 2011, the Real Estate Association Mauritius has been officially launched on the 18th of June 2014 at the Labourdonnais Waterfront Hotel. The guest of honor for that special event was Honorable Dr. Dr Abu Twalib Kasenally, Minister of Housing and Lands.
The not-for-profit association’s main mission above all is to represent, promote and protect the interests of the commercial and development activities of member property owners in Mauritius. REAM brings together the country’s most prominent property owners and developers to set up a strong industry platform and contribute significantly to the growth of the commercial and industrial property sector.
The combined contribution of Real Estate and Construction sector to the country’s Gross Domestic Product for 2014 is estimated at 10,7%. The sector also represent a significant source of Foreign Direct Investment with a record injection in 2013 of some Rs.1,5 billion thanks to Integrated Resort Scheme (IRS), Real Estate Scheme (RES) and Invest Hotel Scheme (IHS).
“We are committed to supporting the goals of the Association by providing relevant and timely information to property developers, public and private sector partners and the public at large about the purpose of the association and its achievements; it will also serve as a platform to share best practice and discuss the challenges facing our buoyant industry…”, states Sanjiv Mihdidin, acting Chairman of REAM.
According to Ken Poonoosamy, Board of Investment’s Managing Director, “Every day the sector must be analyzed and reassessed. The struggle to find the best solutions to meet the highest international standards is never-ending. Major development projects call for strong interaction and synergy between developers and public sector agencies. The advent of REAM is like a welcome kit. Property developers for the first time, have a sustainable platform to discuss and share thoughts and ideas to shape the development of tomorrow and to foster responsible corporate behavior”.
Objectives of the 15-member association:
1. To issue clear standpoints on matters relevant to the property industry where the interests of its members and the economy as a whole are at stake.
2. To encourage formerly disadvantaged members of the community to become involved as owners, developers, employees and managers in the property industry.
3. To enable wider participation in the industry and greater involvement in the affairs of the Association by all players through education programmes.
4. To provide a source of information useful not only to REAM members but also to Government at variouswww.ream.mu levels and the industry as a whole, though a significant involvement in the collection and dissemination of property data and statistics.
5. To expand contacts with Government at all levels to ensure continued good relations and recognition as the authoritative voice of the commercial and industrial property industry.
6. In general, doing all such other things as are conducive or incidental to the attainments of the above objects.
List of REAM members:
Source: www.ream.mu
