What is the development vision for Mauritius ?
First of all , the Government has outlined , in 2017 , its Vision 2030 Blueprint aiming at turning Mauritius into a high-income economy , and despite the crisis we are currently going through , our goals have remained unchanged . Even if the indicators have been positive so far , we need to remain focused — be more innovative and competitive than ever to achieve them .
As far as EDB is concerned , our vision is clear : we want to speed up the process by providing entrepreneurs , companies and investors with the means to achieve their ambitions … Be it in the real estate sector , or in other promising sectors of our economy . Personally , I strongly believe in the potential of the property sector , and the opportunities it can yield with regards to the development of ICT , financial services , medical sector and even tourism .
To conclude , we integrate a sustainable approach into our vision … Especially when it comes to the real estate industry . We encourage property developers to adopt greener concepts , for instance by opting for buildings with low environmental impact and reducing their use of resources .
This global vision is of course accompanied by the desire to improve the quality of life of all residents of the island , regardless of being Mauritians or expatriates . With so many successful projects and the diversification of our economy , I am convinced that everyone will benefit from this vision .
What were the efforts made to keep the real estate sector attractive to international investors ?
Before the pandemic , around 500 residential units , intended for foreign buyers , were marketed each year . In 2019 , we approved only 400 acquisitions — an expected drop of 20 %. We nevertheless remain confident that the attraction for the destination shall prevail .
In order to remain competitive and visible in the market , this crisis compels us to reinvent ourselves . Case in point , we had to set up a series of webinars to initiate dialogue with potential investors ; put forth an exclusive offer to help in acquiring residential land within Smart Cities ; and even designed tailored solutions attuned to the current context to attract people on a short-term basis . This is exactly what the Premium Visa does , allowing foreigners to come and settle in Mauritius for a renewable period of one year . This visa proved to be a great success : to date , we have received nearly 700 requests for information . Finally , we have extended the residence permit for investors and self-employed entrepreneurs to 10 years , and launched campaigns aimed at retirees .
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Sachin Mohabeer , Head of Hospitality & Real Estate , Economic Development Board
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Operating under the Ministry of Finance , the Economic Development Board is a single-aimed desk designed to centralise , promote and simplify foreign investment .
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