Invest in Mauritius: Understanding Mauritius’ Smart City Scheme
One of the latest innovations in Mauritius’ economic development initiatives is its Smart City Scheme. This ambitious project, introduced in 2015, aims not only to reshape urban living but also to cultivate sustainable growth and prosperity. If you are curious about the opportunities available for foreign investors and how you can benefit from them, Blue Azurite explains it all. An insight into the Smart City Scheme The Smart City Scheme embodies a vision of modernity, sustainability, and inclusivity. Its aim is to transform traditional urban landscapes into dynamic hubs where technology, innovation, and environmental consciousness converge harmoniously – a vision that encompasses various facets: The establishment of cutting-edge infrastructure: From efficient transportation systems to advanced telecommunications networks, Smart Cities are poised to redefine connectivity and accessibility while integrating sustainable energy solutions for a greener, more resilient future. Technology is at the cornerstone of smart cities: The use of smart meters for utilities, intelligent traffic management systems, and digital governance platforms reflect the seamless integration of technology to enhance efficiency and convenience. A sustainable environment: Smart Cities promote the vision of having green spaces alongside innovative waste management initiatives, renewable energy sources, and water conservation measures. Mixed-use development: Smart cities embrace the concept of mixed-use development, blending residential, commercial, and recreational spaces seamlessly in order to foster vibrant communities where residents can live, work, and play in close proximity. Enhancing the quality of life for residents: This includes access to essential amenities such as healthcare facilities, educational institutions, shopping centers, and recreational areas. Opportunities for foreign investors in Smart Cities in Mauritius The emergence of Smart Cities across the island, for example, in Moka, Ebene, Beau Plan, Jin Fei, Côte d’Or and Mon Choisy, to name but a few, provides an array of investment opportunities for foreign investors in Mauritius. Below are a few examples: Real estate: There is a growing demand in Mauritius for modern, well-planned urban spaces. Smart city zones offer ground for investors seeking to capitalize on the convergence of infrastructure, technology, and sustainability. Technological innovation: The creation of Smart Cities increased the need for innovative solutions, such as investing in technology companies specializing in IoT devices, data analytics platforms, and renewable energy systems. Hospitality and retail: The influx of residents and businesses into Smart Cities will impact the hospitality and retail sectors. Foreign investors can tap into ventures such as the establishment of hotels, shopping malls, entertainment venues, and dining establishments to cater to the diverse needs and preferences of urban dwellers. Education and healthcare: Investing in educational institutions, healthcare facilities, and wellness centers within smart cities not only addresses fundamental needs but also contributes to the holistic development of communities. A key feature of the Smart City Scheme for foreign investors in Mauritius A distinguishing feature of Mauritius’ Smart Cities is their inclusivity. Unlike traditional gated communities, these developments are accessible to everyone, welcoming individuals from diverse backgrounds. Whether it’s a chic apartment, luxurious villa, or modern duplex, anyone can own a residential unit within these smart cities. They also present attractive prospects for foreign investors considering making Mauritius their permanent base. For instance, holders of residence permits, occupation permits, or permanent residence permits can acquire serviced land within a Smart City to build their own home. Besides, investing in residential property within a Smart City can pave the way for residency in Mauritius. In fact, by investing a minimum of USD 375,000 in a property under the Smart City Scheme, non-citizens qualify for a residence permit, following the approval of the Economic Development Board (EDB) of Mauritius. The bottom line Of course, before investing in Mauritius’ Smart City Scheme, it’s advisable to conduct thorough due diligence, assess market conditions, evaluate potential returns, and seek professional advice to mitigate risks and maximize opportunities. Blue Azurite is here to guide you with its team of experts. Contact us now for more information, and get ready to start your new business venture in Mauritius.
