Omaxe Expands into Mauritian Real Estate Market
Following its successful foray into Dubai, Delhi-based Omaxe Group is set to make its mark in the Mauritian property market. The company has planned to develop a substantial 50-acre residential project in the island nation.
Project Overview
- Project Size: 50 acres
- Project Type: Residential Township
- Land Provision: Likely to be provided by the Mauritian Government
- Expected Land Ownership Transfer: Within a week
- Development Approach: Omaxe will undertake the project independently
Investment and Subsidiaries
The residential project, valued at approximately ** ₹1300 crore**, will be developed through a Special Purpose Vehicle (SPV) named Golden Crescent RED and General Trading Ltd. An additional project worth ** ₹1500 crore** is also planned under the SPV Marine Sands.
Aligning with Indian Expansion Plans
This international expansion complements Omaxe's May announcement to develop 10 lakh affordable housing units in India, with an investment of ** ₹80,000 crore** over the next five years. This ambitious Indian venture is being spearheaded through its newly established subsidiary, National Affordable Housing and Infrastructure Ltd.