Jin Fei eyes property development in the South

Chinese promoter Jin Fei wants to develop a project of villas and apartments on 64 arpents in Anse-Jonchée, in the South-Eastern part of the island.

Earlier this week, the Chinese promoter filed its application with the Ministry of the Environment to develop a large residential project, falling under the Property Development Scheme (PDS). The land is located in Anse-Jonchée, close to Vieux Grand-Port. It will boast 72 villas, 52 duplexes, 60 apartments and commercial and leisure facilities on an area of 64.08 arpents, with sea view.

The land belonged to L'Etoile Properties Ltd and was sold for Rs 274 million on December 22, 2015 to Baie Diamant Properties, whose sole shareholder is Jianhai Gao, a businessman born in China but who acquired Mauritian nationality.

Baie Diamant Properties entered into partnership with Silkroad International Investments Ltd within JinFei Bleu Bay Properties Ltd. This company was incorporated on October 4, 2016. After obtaining the Board of Investment's "letter of approval" on March 31, the Environmental Impact Assessment (EIA) is the next step.

The promoter says it has taken onboard environmental concerns in designing its project. "The environmental and visual aspects have been carefully evaluated so that the proposed residential development is based on the natural environment," reads their filing.

"The ingenuity of this PDS is that it will turn into economic advantages the factors that have preserved the South-East of the country's economic development: remote location, lack of connectivity and topography.”

A wide choice will be offered to buyers. At the villas, for example, the number of rooms varies from three to six. The duplexes will have three bedrooms and apartments, three or four. Anse Jonchée is part of Bois des Amourettes Village Council Area which also includes Providence and Bois des Amourettes. Together, these three villages have a population of 2,000 persons. According to economic indicators, nearly 16% of the population lives below the poverty line.

The promoter hopes to complete the project in a single phase over three years. "The project targets foreign buyers coming mainly from Asia and the Middle East." Jin Fei is currently engaged in the development of the Mauritius Jin Fei Economic Trade and Cooperation Zone on 325 arpents in Riche-Terre.