The Indian Ocean islands of Mauritius, Seychelles and Madagascar – promoted to tourists as part of the Vanilla Island region – represent a unique African property market.
Broll Indian Ocean opened in Mauritius in March 2013. It is a joint venture with Broll Property Group and the partners of respected local business Tinkler and Ramlackhan. From its Ebene base, it also covers the territories of Seychelles, Madagascar and part of Francophone Africa.
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Madagascar, the fourth-largest island in the world, has been dogged by political instability, but its natural resource reserves are becoming the catalyst for a reversal in the country’s fortunes. In anticipation of this turnaround, several multinationals have already established offices here.
This interest has created opportunities in the office and industrial estate sectors. With a growing middle-income segment, retail centres are being developed in the main capital city.
The nearby 115-island archipelago of Seychelles has the smallest population of any African country, but has managed to grow its per-capita output roughly seven times since independence in 1976. Tourism is its primary economic driver, and the government’s encouragement of foreign investment to upgrade hotels and other services has resulted in significant growth in real estate projects and new resort properties.
The establishment of the Seychelles International Business Authority, along with several pieces of enabling legislation, makes the country an increasingly attractive to invest in and operate from. Its small population, along with the major retail and office activity is centred in Mahe.
With the tourism, textiles, sugar and financial sector driving its economy, Mauritius’ property market is seeing development in offices, warehouse and distribution facilities.
Most of Mauritius’ formal retail activity takes place in decentralised shopping centres with its unique blend of first world infrastructure, political and economical stability, as well as fiscal incentives and easy accessibility. All of these factors have also pushed Mauritius as a prime African sun belt residential location.
Population:22,599,098 (July 2013 est)
Total area: 587,040 km2
Antananarivo (Capital) - Population: 1.9 Mil
Toamasina - Population: 242 817
Mahajanga - Population: 178 001
GDP growth (2012): 1.90%
GDP growth forecast (2013) 2.60%
GDP Per capita US$465.92 (current prices year estimate)
Key Industries: Meat processing, seafood, soap, breweries, tanneries, sugar, textiles, glassware, cement, automobile assembly plant, paper, petroleum, tourism
Ports (airports, habours, inland ports) used: Antsiranana (Diego Suarez), Mahajanga, Toamasina and Toliara (Tulear)
Inflation Rate: 5.40% (March 2013)
Literacy Rate (15+ yr) (2007-2011): 64%
Unemployment Rate: 3.80% (Dec 2010)
Ease of Doing Business 142/185
Population: 90,846 (July 2013 est)
Total area: 455 km2
Victoria (Capital) - Population: 26,000
GDP growth (2012) :2.80%
GDP growth forecast (2013): 3.20%
GDP Per capita: US$12,207.16 (current prices year estimate)
Key Industries: Fishing, tourism, processing of coconuts and vanilla, coir (coconut fiber) rope, boat building, printing, furniture and beverages
Ports (airports, habours, inland ports) used: Victoria
Inflation Rate: 3.30% (July 2013)
Literacy Rate (15+ yr) (2007-2011): 92%
Unemployment Rate: 1.70% (Dec 2011)
Ease of Doing Business: 74/185
Population 1,322,238 (July 2013 est)
Total area 2,040 km2
Port Louis (Capital) - Population: 200 000
Beau Bassin-Rose Hill - Population: 112 900
Curepipe - Population: 85 700
GDP growth (2012): 3.3%
GDP growth forecast (2013) 3.7%
GDP Per capita US$9,306.57 (current prices year estimate)
Key Industries: Food processing (largely sugar milling), textiles, clothing, mining, chemicals, metal products, transport equipment, nonelectrical machinery, tourism
Ports (airports, habours, inland ports) used:Port Louis
Inflation Rate: 3.6% (July 2013)
Literacy Rate:(15+ yr) (2007-2011): 89%
Unemployment Rate: 8.7% (March 2013)
Ease of Doing Business:19/185