PROPERTY DEVELOPMENT: A COMMERCIAL SUCCESS
The Mauritian real estate sector is now awash with acronyms such as RES, IRS (restructured into PDS), HIS and SCS. Over the past two decades, the Mauritian government has designed entire new system to promote real estate development while attracting foreign direct investment (FDI) into the country.
The system, which allows foreigners to acquire apartments and other real estate on Mauritian soil, is now bearing fruit after a short slowdown. Growth in the sector fell from 5.3% in 2014 to 4.3% in 2015 and 4.1% in 2016, before rebounding in the first quarter of 2017. During that period, the sector grew 4.5%, compared to 2.6% in December 2016. From January to September 2017, FDI into Mauritius rose to Rs 12.3 billion.