Properties go on sale on Seychelles’ reclaimed island of Ile Soleil

Ile soleil development concept as shown during the Seychelles 2020 Expo on March 25 2011 (Mervyn Marie, Seychelles News Agency)

(Seychelles News Agency) - A second round of sales for 15 plots of land on Ile Soleil starts today for housing and business developments on the 123,000 square metres reclaimed island built by the government at Anse Aux Pins, eastern district of the main island of Mahe.

In a press statement today, the government-owned company responsible for the development of Ile Soleil, 2020 Development Company (Seychelles) Ltd, has announced that it will consider a new round of applications for plots left unsold from the first round of tenders which closed on January 23, 2014.

“Only 15 of the 52 plots available were not sold, and these are now being put back on the market,” says the statement.

The 15 remaining plots consist of 1 simplex plot, 4 duplex plots, 7 condominium plots and 3 commercial plots.

According to the company's website, the building costs are between SCR9,000 ($730) up to SCR12,000 ($980) per square metre.

As in the condition for the first tender, the same terms apply for the second round of tender, which states that only Seychellois citizens are allowed to buy plots for residential or business purposes on Ile Soleil.

For this second tender, the 2020 DC has decided to allow all potential investors to submit their bid for the 3 remaining commercial plots.

This means that people who currently own a property suitable for commercial/industrial use or have a lease from Government for a commercial/industrial plot, can apply for a plot. Previously they were not allowed to bid in the first round of tender.

“We are delighted with the results that we have achieved, considering the fact that this was a new concept for Seychelles and the time that it took for investors, especially for the first time buyers, to have access to attractive financing options. Following all the necessary financial, legal and social due diligence, we can say that we have sold the vast majority of the plots to Seychellois of all ages currently residing in Seychelles as well as satisfying our original requirement of giving priority to the people of Anse Aux Pins,” said Barry Faure, the Chairman of 2020 Development Company (Seychelles) Ltd, in the statement.

The second round of tender for the commercial and residential plots of land on Ile Soleil will close on June 13, 2014.

“The sales from the first round puts the Ile Soleil development in a safe position for the actual development phase of the project to take shape, and this should be a catalyst for potential investors who were doubtful initially to now invest in a commercial or residential plot on Ile Soleil”, said Faure.

“We are confident that we will achieve our target of selling all the plots after this final round of applications.”

Work on the different infrastructure and utilities needed on the reclaimed island is expected to start in July 2014 and will take about 1 and a half years to be completed.

When the first round of tender closed in January ended, Faure emphasized on the need for investors, individuals and families who buy commercial and residential plots on Ile Soleil to respect the deadline set for construction adding that Ile Soleil must be a fully developed island within the next four years.

The Ile Soleil development project also consist of a plot reserved for Tourism Development which is being marketed by the Seychelles Investment Board (SIB) together with 2020 Development Company (Seychelles) Ltd.