The property market in Mauritius is booming and land is scarce and thus at a premium.
The island attracts significant amounts of investment from overseas due to the economic, political and fiscal environments, which favour foreign investors seeking profitable yields.
Real estate investment in Mauritius is supported by a specific policy put in place by the Mauritian Government to encourage foreign investment in the country.
Our multidisciplinary team of experts has acted on a large number of real estate and construction assignments where development schemes have become subject to a dispute between the promoters and the developers, and as a consequence, have collapsed.
Recent assignments include:
- Appointed liquidator to a number of businesses established to promote real estate investment opportunities in a range of Mauritian developments to overseas investors . A dispute between the promoters arose and was unable to be resolved. As a consequence, the development was unable to progress. Our team were appointed as liquidators. They were able to secure a prompt sale of the land which allowed a settlement of the business’ liabilities and to provide a partial return of funds to investors.
- Appointed administrators of a business which owned a substantial building in Mauritius. The business was unable to maintain its commitments to their lender, who in turn instructed us as administrators. We were pleased to be able to lead negotiations between the lender and the director/shareholder and agree a voluntary arrangement for the funds owed to be repaid over a short period of time. The business is able to continue to trade and with assistance, turnaround its financial position.
- Appointed Receiver Manager of a construction business which held a number of contracts with Government departments. The business had been unable to maintain cash flow levels to enable them to complete the contracts. We were able to lead negotiations with each of respective government departments and secure the support of the business’ lender to enable us to complete each of the contracts.