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Is this the right board or would this go under financing?
<moderator: delete flame> partner with a builder and give him/them one of the properties as payment – assuming you build 3. There would be far cheaper and less risky places to build mega McMansions in than Mauritius.
All right, building a mansion would be too ambitious. How does partnering with a builder solve the problem of financing though? Will he supply the money for all the construction costs? Can anyone give me the relevant cashflows involved with construction? I want to create a model in excel to work out in general the internal rate of return of a construction project. I will post it up if anyone is interested. I want it to simply be input of cashflows, term of the project, frequency of payment of cashflows (I assume everything associated with construction would best be modelled by discrete rather that continuous cashflows i.e. cashflows payable p-thly per annum) etc. Maybe I'll make some statistics. I don't know. I just feel like modelling a problem to be honest. I am in Mauritius currently. If anyone can direct me to people or firms that will be able to assist in adivising me on the best course of action, it would be greatly appreciated. Hell, I'll crunch data as payment (frequentist approach, bayesian approach, time series and stochastics are what I know)
Hi,
I haven't visited Mauritius before, but I've seen pics and it seesm like a beautiful place. What's the real estate market like over there?In regards to finance for you, have you tried talking to the banks yet or any other kind of financial institutions? That could be a good start
All right, here is what I know about Mauritius:
The government positions it as an island paradise and encourages foreign investment. They have done away with Capital Gains Tax and allow foreign investment require a minimum of $500 000 plus a $70000 fee for registration or something for a foreigner to own land here. There are RES/IRS projects. Do a quick google search on them to find out how they work. IRS stands for Integrated Resort Scheme and you need a minimum of 1 acre (approximately 4000 m^2) of land to be eligible to build under that scheme. Developers around here work on a mininum markup of 100% (I know, crazy). There is a lot of undeveloped land available but fewer and fewer beachfront properties are available. A variety of big shopping centres are currently being built (Check out Bagatelle – it could rival South African shopping centres). There is a lot of south african companies investing here like Pick 'n Pay (groceries), Nandos, Debonairs (food) etc. so yay for my country. We taking over, one country at a time. Hah. Anyway, there are over 100 hotels here and generally this island caters for the super rich. Food is cheap. There is "duty-free shopping" here which means import taxes aren't levied. The climate is tropical (feels like hellfire to me). Labour is cheap. The main export is sugar cane and tourism accounts for a significant proportion of GDP. Everywhere one looks, there is construction going on of houses, villas etc. Grand Baie is the central tourist spot. Clubs are found along Royal Road Grand Baie and in a place called Flic en Flac. Um, it's pretty boring here for me being a 20 year old with no real money. There is a place called the Cyber City where all major business' headquarters are. The architechture there is pretty impressive. I saw a massive oval shaped building. The natives are pretty broke. Roads aren't that well developed. If you have spinal problems, stick to the main roads. There are a few casinos here and there. The waterfront Caudon, is pretty cool. Loads of cheap electronics there. People are friendly but generally, the English is poor here. I am part Mauritian but I do not speak French and consequently have trouble understanding people and the accent. It is a beautiful place, I guess. Foreign investment mainly comes from Europe, the UK, China and Russia. There is a large Chinese population here. Food is really cheap. For 200 rupees, 4 people will have trouble finishing a meal of mein or fried rice. That's approximately 50 rands or 7 US dollars. The teenagers seem unmotivated for the most part. I went around asking high school students what they wanted to do in University and their response is mostly fashion design or some other humanities field. *sigh* No one for me to talk Mathematics and Statistics to. I can't think of any other things. I could do some research for specific questions.
Hmm. sounds like an interesting place. I can speak some french so that interests me. I should visit Mauritius sometime, and perhaps for getting into investments.
What about the safety, crime rate? Is it low?
Bra, I am from South Africa… Comparitively, the safety is good and the crime rate is very low. I'm not sure about in comparison to Australia but people here look scared of me when I say I'm from South Africa. I got some land, if you have some capital, let's do this. The only thing I am worried about is the sale of a house because of this recession. There is a lot of supply here too so the house would need to stand out for a person to buy during a recession. If you aren't Mauritian though, you can't just buy land. Maybe I am wrong. Someone correct me? There should be loads of documents on Google relating to mauritian construction procedures. It's hard to get information here without speaking French.
How do I delete a post? I've sorted my problems out.
the problems in regards to speaking french ?
Howzit!!
Lekkar! Until you try to sell a development in a world economy thats approaching a cliff – hope I’m wrong:)
I like SA (although it is NOT the way it used to be) and have been visiting Mauritius for nearly 40 years and wish you luck. When I was your age someone said to me you HAVE to walk before you can run. Of course I was right and he was an idiot but after having gone nearly broke twice I have to say he was right.
For those that haven’t been there I wish to explain the joke. It is a magnificent place, bit like Fiji with lots of granite. A workmate of mine in a taxi from the airport said ‘See you might look at that hillside and say its beautiful – I look at it and see a million kitchen bench tops…’
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