At present approximately 30 countries still have in place a property-linked residence or citizenship-by-investment programme. Often referred to as a ‘golden visa’ a number of these countries are gaining traction with South African investors and families looking for a ‘plan B’, which is confirmed by data from New World Wealth and Henley & Partners that indicates South Africa has continued to lose high net worth individuals overseas.
According to the data which indicates that approximately 4500 high net worth individuals have left South Africa in the past ten years, Mauritius is among the preferred countries that South Africans are investing in to call ‘home’. That bodes well for the likes of Eiffel Property Developers who as of 09 June 2022, officially launched Bijou Residence into the market.
While Mauritius is renowned for its sparkling beaches, centrally located dormant volcano, active outdoor lifestyle and engaging culture – this country’s growing economy has also made it a key destination for doing business. Warren Rajan, MD of Mauritian developer Eiffel Property and former South African, believes Mauritius is in demand among wealthy investors due to its double tax avoidance agreements with more than 50 countries. Add to that the claims that it’s the simplest residency-by-investment programme around with the benefit of permanent residency applying not only to the purchaser, but their spouse and children aged under 24 years old as well – and it seems like a no-brainer.
“There are four types of property developments that qualify for the programme: integrated resort scheme; real estate scheme; property development scheme; and smart city scheme. The smart city scheme — a live, work and play concept — has become a popular choice for foreigners. Situated within Uniciti, we have just introduced Bijou Résidence alongside the lively West Coast village of Flic-en-Flac; a development available to invest in, that meets the expectation of beauty, relaxation, and adventure,” says Rajan.
Uniciti is set across 347 hectares and introduces an unprecedented life of ease as one of Mauritius’ Smart Cities. Uniciti was launched as a live-work-learn-enjoy destination in 2017 as part of the Medine Group’s mission to sustainably develop the heritage of the West of Mauritius through avant-garde experiences.
“Uniciti’s masterplan encourages accessibility, walkability, conscious energy use and self-sufficient measures that will defy the test of time. That’s why at the heart of this pioneering city, we decided to develop the enticing Bijou Résidence offering,” Rajan explains.
Bijou Résidence is an exclusive luxury estate boasting 2 and 3-bedroom apartments starting from $400 000, 3 and 4-bedroom penthouse suites from $760 000, as well as 4-bedroom luxury villas from $1 150 000. This Mauritian development quintessentially encompasses a life of indulgence in all the finer things of island living; from its lavish living spaces to the intimate outdoor areas and its tailored, climate-sensitive, modern tropical architecture – every aspect has been uniquely considered.
“Mauritius is a maturing global hub that offers world-class infrastructure, a respected and well-regulated banking jurisdiction with a vibrant and trusted business platform, and a highly skilled bilingual workforce. In addition, legislation in Mauritius has been amended to make it easier and more affordable for foreigners to obtain residency through buying real estate.”
Buyers looking for a holiday home, buy-to-rent, retirement or permanent relocation option that will also guarantee them another country to call home, will find Bijou Résidence ideal because of its location and the convenience of its surrounding amenities. “The mix of residential units in the development makes it easier for buyers that have different objectives,” concludes Rajan.
With Phase 1 of Bijou Résidence having been launched off-plan at the beginning of June 2022, construction to Phase 1 is planned to commence January 2023 and be completed by June 2024