Mauritius United Properties

www.newsnow.mu(15/03/2010)

The $200 million La BaliseMarina-Mauritius project in the Black River area on the southwest coast of the islandis proceeding despite the impact of the global financial downturn.

The project is developed by ENLProperty, based in Mauritius, together with Investec (Mauritius) Bank.

The five-year project is anintegrated resort scheme set on 15ha and offers 118 residences and duplexes,each with a private berth with direct boat access to the ocean.

The project has been divided into twodifferent phases, with Phase One incorporating 60 properties and the IslandGrace Hotel to be completed in 2012. The marina, which is being constructed atthe mouth of the Riviere Noire, has been zoned by the government for major marinedevelopments. “Site enabling works are already under way. It is going to be alengthy process because we are building on the marina. We will clear the site,remove the topsoil and excavate the basin areas,” said Dominic Dupont, Generalmanager of ENL Property La Balise Marina-Mauritius.

“The excavated material will be usedto raise the site to a level at which we will be able to do piling for all theunits. These works will be completed in May and construction will begin in July.”

ENL Property has also unveiled plansto mitigate the impact on the natural habitat and sensitive area of the RiviereNoire. Dredging has been limited to the mouth of the river to ensure minimalimpact on the marine environment.

The site is also well protected fromwave action, wind and cyclonic events owing to its location and no changes tothe tidal and current patterns are envisaged. The promoters say the BaliseMarina is targeting those who are “financially savvy” and looking for ways toconsolidate their wealth, “who have worked hard and are now enjoying the fruitsof their labour, who are strongly influenced by the family lifestyle, and whoseek a sense of balance, perspective and renewal that comes from being closelyin touch with nature and the marine environment”. Buyers from certain countriesmay be required to obtain the approval of the appropriate authorities in theircountries of residence before being able to buy a villa at La Balise or useexpatriate funds for such purposes. “We call on investors to invest in thisviable project, which is unique in design. The economic meltdown has reducedthe number of aspirant investors, but interest is picking up,” said Mr Dupont.

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