In 2015, with the view of redesigning the geographic landscape of Mauritius while driving economic growth and FDI, the government deployed the Smart City Scheme concept as part of its long-term economic strategy. Mauritius, was traditionally sculptured around its five historical towns with limited amenities further from the vicinity. Hans Sooknah, CFO of Trimetys Group expresses his opinion on the socio-economic contribution of its real estate cluster on the west coast.
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Trimetys Group’s vision through its founders has always been to engage in the socio-economic development of the region by promoting an inclusive ecosystem to the Tamarin village, benefitting all stakeholders including inhabitants of the locality and beyond. The Group, with its strategic geographical location and land bank, could only seize this opportunity to bring its contribution to the socio-economic development of the west coast, an endeavor which it had already invested in through its education (Paul and Virginie School, approved by AEFE) and sporting facilities (Riverland Sports Club, one of the first multi activity clubs on the west coast).
In 2018, this gave rise to the creation of the Cap Tamarin Smart and Happy Village, a first of its kind in Mauritius, providing a unique ecosystem to drive sustainable development on this part of the island.
Even if the Tamarin region is well known for its privileged climate and its sweetness of life, it lacked a village heart, whose life, activities and dynamism nourishes the whole region. Cap Tamarin is on its way to become the essential magnetic pole of this coast and contributing to the vibrancy of that part of the island.
Key contributions to date include:
- A complete modern infrastructure with optimal ecological consideration – solar-powered street lighting, rainwater harvesting, underground laid out networks amongst others whistle improving the fluidity of traffic in the region. This is reflected in the green funding obtained from Agence française de développement (AFD) relating to green investment, granted on qualifying criterion.
- Creation of permanent jobs in various sectors.
- Partnership with public authorities to improve water pipe networks from Yemen to service the village and improve the volume of water supply to the village of Tamarin and even further.
- Accessibility to amenities, including education, health, sporting, and leisure facilities such as a 3-hectare riverside park open to the public.
- Contribution to the commercial offerings in the locality through Cœur Cap Tamarin – Super U commercial center, amongst others.
Inclusivity being one of its core values, Cap Tamarin Smart City offers a plethora of dwelling opportunities to a wide market segment. From the O’Patio’s cosy studio apartments ideal for students or young couples, to the high-end villas of Villa 8 for those seeking a luxurious abode, there is something for every budget and taste.
Additionally, in December 2021, Life Together, Bloomage, and Trimetys Group have joined forces to create a state-of-the-art health and well-being center in the very heart of Cap Tamarin. This comes as an addition to the existing health offering from the C-Care medical center already present since 2020. The completion of the first phase of the C+S medical center is well on track for the end of 2022, providing access to high-quality and high technological healthcare services, for residents of this booming region of the island.
Moreover, Cap Tamarin’s contribution to the economy is further consolidated by the fact that Mauritius remains an attractive destination for investors for various reasons – ease of doing business in a highly regulated environment, availability of skilled workforce, relative cost of living, and government incentives amongst others. The construction and real estate sector, contributing approximately 10.4% to the country’s GDP in 2021, remains seen as a “safe haven” investment regardless of the recent economic disruptions caused by the pandemic. Interest rates, which have been maintained at low levels for the last 24 months have also played a key role in the influx of FDI into the real estate sector, specially during the COVID-19 period.
Other incentives to attract foreign investment to Mauritius include the premium visa initiative, extensions of occupational permits to 10 years and permanent residency permits to 20 years. With regards to real estate acquisition, the minimum price to obtain a resident permit has been reduced, from USD500k to USD375k for the purchase of a property.
Despite the adversities of the last two years, the materialisation of Cap Tamarin Smart & Happy Village is well and firmly on course. 2022 promises to be an exciting milestone in further enhancing the smart city’s landscape as key project landmarks are deployed during the year. As the flagship project of the Trimetys Group, Cap Tamarin remains committed to its vision and mission; by harnessing a responsible and conscious approach towards sustainable development with due consideration to its socio-economic footprint to surrounding communities and beyond.