Construction underway at new lifestyle development in Mauritius

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Says Patrice Legris, CEO, of Alteo Properties: "Services are being installed and construction of the first phase of residences at Amalthea commenced on 15 January 2014. Final completion of this phase is anticipated by June 2015."

The Amalthea residential development comprises a total of 21 villas and duplexes as well as 38 lodges. The first phase being built consists of 13 villas and eight duplexes, of which 11 villas and four duplexes have been sold, representing a total sales value to date (according to current exchange rates) of US$16 million. Entry prices in this first phase range from €852,000 for a three bedroom villa with the duplexes starting from around €637,000. The lodges launched in the second phase are priced from €530,000.

Unique lifestyle opportunities

Pam Golding Properties (PGP's) International & Projects Division, which is marketing Amalthea, report that private investors have been attracted by the unique lifestyle proposition offered at Amalthea, a contemporary Mauritian neighbourhood enclave set in the heart of the sophisticated and successful 213 hectare estate, Anahita. In addition to the extensive shoreline, the estate also offers a fully serviced 5-Star resort concept through Anahita The Resort, two 18-hole golf courses, and access to two private beaches, including a beach at the picture-postcard island of Ile aux Cerfs, just five minutes away by speedboat.

Says Chris Immelman, MD of PGP's International and Projects Division: "While buyers are both local i.e South African, as well as international, traditionally Mauritius has high appeal for South African buyers as it's an easily accessible and idyllic tropical island holiday destination. Furthermore, the fact that almost all of the villas have already sold off-plan indicates that Alteo Properties have put together arguably the most attractive IRS scheme on the island.

"Buyers also benefit from being able to acquire a Mauritian residency permit for themselves and their families, while enjoying freehold ownership in an IRS in a prime location on the coast. Mauritius is a stable, emerging economy with a low tax environment and is recognised as a key financial services hub which opens doors for trade and services opportunities in Africa," says Immelman.

Local interest

Adds Legris: "While many home purchasers in Mauritius are from Europe, since the initial launch of this resort and now with Amalthea being brought to market, we are seeing a growing number of South Africans who have already bought or are currently interested in investing in this new, lifestyle development.

"Homeowners have various reasons for purchasing in this well-established resort, as evidenced in previous phases in Anahita such as L'Adamante and Lunea. Some acquire residential units as an investment and use the rental pool for an income stream, others utilise the property as a secondary home for leisure getaways while some even move in and reside here. We expect the same buying trends at Amalthea.

An important aspect from an investment perspective is that resales of units in Anahita have achieved average net returns of 14 percent in L'Adamante apartment residences and 27 percent in Lunea villas."

Legris says Amalthea's residential mix of villas, duplexes and lodges have been conceived with the demands of the international buyer in mind, resulting in a leafy neighbourhood showcasing Mauritian architecture with a contemporary twist. Space, light and the fusion of indoors with outdoors in the living areas all combine to embrace the lush surrounds. Natural woods and textures, neutral tones and earthy shades reflect a relaxed tropical and present-day Mauritian style.

Prime location

The central location of Amalthea means residents are in prime position to enjoy all that is offered on the estate - two exceptional resorts, Anahita The Resort and a signature Four Seasons Resort, plus a world-renowned golf course designed by champion Ernie Els. Over and above the rental pool managed by Anahita, the Amalthea homes will be fully serviced by Anahita staff, with housekeeping, butler, chef and concierge services available, enabling home owners to enjoy all the facilities of a 5-Star hotel in the comfort of their own home. Beach, land and water sports and restaurants complete the picture.

At the hub of the resort is a lively central village, "La Place Belgath', which includes a bar, restaurants and boutiques, the 'Our Space' children's club and Anahita's Wellness Centre. Residents at Amalthea will also have access to the estate's designated nature reserves, set in the interior of the island at L'Etoile and the Ferney Valley, which are home to birds and mammals such as stag (deer) and wild pig, which can be explored on foot, horseback or by quad bike.