life in blue - MCL Immobilier · • Centara Grand Azuri Resort & Spa: an 85 bedroom 5 star boutique hotel. • Retail & restaurant: the intent is to provide a retail and restaurant

l i f e i n b l u e

Vision, location and masterplan

Computer generated image.

A unique location

The stunning 420 acre site at Azuri is a blend of freehold ocean front, riverside, forest and agricultural land. The 40 acres where the river

and ocean meet will be the platform for the initial phase of the project – a new mauritian ocean front village.

The Azuri site is located in the North East of Mauritius, 25km from the capital city of Port Louis

and will provide a truly unique proposition whereby residents will be able to acquire freehold

accommodation on the ocean front within a 35 minute drive of the capital.

Despite Mauritius having nearly 200km of coast line, only a very small percentage

remains as freehold, rather than leasehold tenure. Azuri is one of the very few

such locations available in this island paradise.

The North of Mauritius now benefits from the existence of a superior road network

to that found to the South of Port Louis. As such, journey times are far quicker

and offer easy access to the extensive range of facilities and activities

to be found in the North and East of the island.

The vision for Azuri

To create a true mauritian, aspirational ocean front lifestyle village conceived to satisfy the demands of the modern world through

a blend of contemporary island living and enthralling experiences.

Azuri is devoted to the celebration of a mauritian lifestyle. The developers have sought to create a new village; providing education,

hospitality, leisure and commercial facilities built around luxury residences. The project will deliver living opportunities that will stimulate

the senses and aspirations, providing a compelling and functional platform for the growth of a truly sustainable community.

Azuri is not aiming to be solely a vacation development. It will be a vibrant and evolving community of both year round

residents and seasonal guests, united in the belief that life is enhanced when people interact, learn and share through

experience. The diverse collection of maritime and land based activities provided on the site, coupled with the

year round events calendar, will enhance the experience and make it the focal point for an entire region.

Whether you’re looking for a holiday destination or a place to call home, Azuri is the ultimate experience

for anyone in search of a better way to live.

Azuri’s value proposition

Computer generated image. Street view of the Nautil beachfront residence.

The initial phase of the project will be the creation of the first village in Mauritius, where both mauritian ownership and foreign

approved ownership is truly reachable to as many people as possible.

• It is a truly innovative concept, designed by a team of highly experienced international consultants.

• It introduces the first truly multi-cultural integrated project on the island – offering a balanced mix of international visitors

and local mauritian residents.

• A stunning freehold ocean front location overlooking an exquisite lagoon, harnessing a myriad of land

and ocean based environments.

• The creation of a true year round community that does not leave stakeholders disillusioned at activity drop off

in the non peak seasons.

• The Azuri team has sought to include the best facilities conducive to a true mauritian lifestyle allowing

for easy living and leisure pursuits.

• The project is conceived so as to create an open community that is part of Mauritius,

not a fantasy world separated by high security barriers.

Azuri’s components

Azuri is conceived to provide the very best of lifestyle opportunities for residents, visitors, tourists and guests. The result of nearly

2 years in the planning, this project will provide :

• IRS residential: a community of up to 169 foreign ownership qualified townhouses, apartments and penthouses in landscaped

grounds, with swimming pools, together with access to a wide variety of leisure activities both on and off site.

• Luxury local residential: a mixture of 109 townhouses, apartments and penthouses, clustered around communal garden

areas, with dedicated car parking, will be created for the mauritians.

• Centara Grand Azuri Resort & Spa: an 85 bedroom 5 star boutique hotel.

• Retail & restaurant: the intent is to provide a retail and restaurant presence that supports the residents

and visitors daily needs whilst providing diverse high quality culinary offerings that will also attract

customers from further afield.

• Schooling: key to the success of the project will be the establishment of first class primary and

secondary educational facilities. The Azuri team are currently working with a variety of parties

on opportunities that will not only anchor Azuri as the most desirable educational magnet

in Mauritius, but in the entire Indian Ocean region.

• Marine facilities: Boat Club, free mooring.

• A wide array of leisure activities.

Health Centre

CoralisIRS residences

Centara Grand Azuri Resort & Spa Hotel, Mauritius5 star boutique hotel

Sports Club and facilities

OpalineIRS residences

Haut RivageLuxury local residences

Cour MarinLuxury local residences

Cour AmbréeLuxury local residences

CéladonLuxury local residences

NautilIRS residences

La BaieIRS residences

Village Green

Boat Club

Market Square

Masterplan

The residences

Computer generated image. Poolside view of the Nautil beach front residence.

The IRS residences Designed to provide intimacy whilst maintaining a foothold in a vibrant local community,

the IRS residences will reinvent the basics of sophisticated seaside life. The architects

have concentrated on merging modern architecture to the typical mauritian lifestyle

of indoor and outdoor living. Great attention has been given to using local materials

and textures so as to blend into the natural, fresh and simple environment. The residences

will be clustered around communal garden areas with swimming pools and will offer

secured parking.

Azuri is accessible to international and mauritian buyers as from USD 500k whilst offering

eligibility for mauritian residency and a rental pool managed through an international branded

hotel chain.

Computer generated image. Nautil beach front residence.

Nautil, the beach front residence

Ideally located just off the lagoon frontage, Nautil will offer stunning views over the bay and the mangrove trees along the boardwalk and will comprise of:

• 16 apartments in 3 bedroom or 4 bedroom formats with balconies or terraces, including penthouses.

• 11 townhouses in 3 bedroom or 4 bedroom formats with private garden areas.

Opaline, the residences on the green

Adjacent to the village centre where the village green and market square will be located, Opaline will open to the bustling village heart on the one side

and to a secluded, tropical garden and swimming pool on the other. It will comprise of:



La Baie, the residences on the lagoon

Ideally located just off the lagoon frontage, La Baie will offer stunning views over the bay and the mangrove trees and will comprise of:



Coralis, the residences on the bay

Coralis, with its exquisite location on the river heights, will offer stunning views over the mangroves and the turquoise lagoon beyond. It will comprise of:



The luxury local residencesExclusive to mauritian buyers, these residences are the promise of a secure environment

in a mixed community lifestyle village developed on freehold land by the sea, within only 35

minutes’ drive from Port Louis or Grand Bay. A strong emphasis has been placed on ensuring

that this development takes the very best of what Mauritius has to offer, from landscape

to architecture, views over the ocean and mountains, modern designs to comfortable

island luxury and understated elegant residences.

Computer generated image. Haut Rivage, luxury local residence

Each of the four luxury local residences will offer a mix of townhouses, apartments or penthouses clustered around communal garden areas.

The residents of Azuri will have access to all the services and facilities of Azuri:

• Full marine facilities with free mooring and Boat Club membership.

• Golf membership and free Health Club membership.

• 5 star boutique hotel in the heart of the village.

• Proposed high quality primary and secondary international school.

• Superb landscaped environment and a myriad of activities on land and sea.

• Lively and vibrant community all year round, where mauritians and international visitors and home owners mix and meet in restaurants, shops and activities.

• Starting price from Rs 5.35 million.

Haut Rivage• 36 townhouses in 3 bedroom or 4 bedroom formats with private garden areas.

Céladon• 30 apartments in 2 bedroom with study bedroom format, 3 or 4 bedroom formats with balconies or terraces, including penthouses.

Cour Marin• 15 apartments in 3 bedroom or 4 bedroom formats with balconies or terraces, including penthouses.


Cour Ambrée• 15 apartments in 3 bedroom or 4 bedroom formats with balconies or terraces, including penthouses.


Computer generated image. Interior views of Coralis apartment & townhouse. Computer generated image. Interior views of La Baie townhouse & penthouse.

Azuri components

Computer generated image. Street view of La Baie

The Azuri development sits on the unspoilt North East coast of the island – the location of choice for all of the “World Class” hotel

properties located in Mauritius. We are delighted to have partnered with Centara Hotels & Resorts to provide the management

of the 85 bedroom 5 star boutique hotel and Spa.

Centara is an award winning Thai hotel group, with 10,000 hotel rooms across South East Asia, Indonesia, India, Africa and the Indian

Ocean. The property will add to the management and range of facilities available to all the residents of the village; not least

of which will be a 300 m2 Spa facility and Health Club.

One of the benefits to the project of the inclusion of a hotel at Azuri, is the ability to increase leisure and recreational

facilities without a requirement to fully support these facilities through the immediate population on the site.

In addition, the hotel will be utilised to provide full management facilities for any residential properties on site

that will be entered into the “Rental Pool” and as such benefit from providing services to a far wider clientele.

The choice of a boutique hotel format is strategically based on the fact that this niche is:

• Poorly provided for in comparison to the saturated 4 and 5 star resort hotel market.

• A bespoke proposition in line with the rest of the project.

• On a scale that can easily be accommodated without dominating the rest of the project.

• A growing format of choice for international tourists.

Centara Grand Azuri Resort & Spa, Mauritius

Computer generated image.

Leisure activitiesThe School at Azuri

The unique environment at Azuri provides a wonderful setting for a myriad of activities both within the initial phase and throughout the wider site area.

There are six distinctive marine environments within 500m of the site: • River area above the weir • River estuary • Beach front• Protected lagoon • Area inside the reef • Area outside the reef

This diverse offering has the potential to provide a unique maritime environment and will result in a diversity of activities for both residents and visitors. This variety allows both novices and seasoned experts to maximize their enjoyment whether it be underwater or above. Variety is not only restricted to the water. The flora and fauna on the site will create a diversity of environments for young and old. Leisure activities as sedate as picnicing, walking or pétanque can be accommodated on a site that is intended to also entertain more high octane sports such as equestrian eventing, mountain biking, “Go Aping” and quad biking.

GolfThe Azuri team have secured an arrangement with the world famous Le Touessrok Hotel to provide resort membership packages to the residents at Azuri to play their international championship golf course, designed by Bernhard Langer, and voted one of the top 10 courses in the world by “Golf Magazine”.

The core to our design intent at Azuri is to create a new high quality community.

For Azuri to thrive deep into the current millennium it must have a top quality and high achieving school. The homes created will be targeted at the highest earning professionals and to succeed in becoming established as their preferred base, it will need to have a school of corresponding prestige; without schools, communities tend to shrink and stagnate. Residents of the new development will benefit from the creation of a premium independent international school. There is currently no such school on the island.Two years from now, at Azuri, we propose to open the first international private boarding school of its kind on the island. High quality education is a critical driver of major economic and social advance, which is why good schools are found at the heart of all sustainable and healthy communities.

Azuri is partnering with the international elite brand of Wellington College; one of the top five ranked schools in the United Kingdom. Notoriously hard to achieve a place at – the IRS owners at Azuri will benefit from a guaranteed place for their children.

Based on the British system, but also to offer the International Baccalaureate, the School at Azuri will become a beacon of the highest achievement and best educational practice, and will attract the best tutors from around the world and with qualifications that are recognized internationally as gateways to higher education.

Invest at AzuriIRS benefitsComparison of IRS

Computer generated image. View of penthouse in Nautil.

Invest at Azuri Rental pool investment return

The Daily Telegraph recently voted Azuri one of the “Top 10 Property Safe Havens Abroad”.

The Only Guaranteed Income Residences in Mauritius

In addition to providing high quality and highly desirable homes, the team at Azuri has created the first IRS Residences in Mauritius to provide a 5% guaranteed

income for the first 3 years of occupation. Available on a selection of units, this guarantee will help to provide both investors and second home owners with

the peace of mind in knowing that the return on their capital is secured through the initial years of ownership whilst capital values grow.

Summary of Azuri Investor Benefits

• All properties can be managed through an onsite Rental Pool managed by the 5 Star Centara Grand Resort at the heart of the village.

• The rental income is fixed at 5% (net of all charges i.e. management charges, service charges, insurance, FF&E Fund etc.) per annum for the first 3 years

based on the cost of the property;

• The guarantee will be secured by a full Bank Guarantee, of equivalent value, to the outstanding income;

• This offer is unique in the Mauritian foreign homes market.

• Income Guarantee only on selected residential units.

• All rental income payments paid in USD equivalent.

• The proposal is extremely competitive compared to other financial investments on the market;

• Azuri is the only IRS with a price range from USD 500,000 to USD 830,000; the average price on the island for IRS currently being USD 1.6 million

• Purchasers qualify for automatic Residency in Mauritius

• Personal Income Tax – flat rate 15%. Corporation tax – flat rate 15%. Capital Gains Tax – 0%

RENTAL POOL - INVESTMENT RETURN

Example based on 3-bedroom apartment with 47 weeks occupancy available to Rental Pool.Average acquisition price incl. $70,00 IRS Purchase Tax, Decoration Pack & Notary deeds: $685,000

LOW SCENARIO MID SCENARIO HIGH SCENARIO

45% 50% 55% 60% 65%

$ 66,623 $ 74,025 $ 81,428 $ 88,830 $ 96,233

13,325$ 14,805$ 16,286$ 17,766$ 19,247$

30% 30% 30% 30% 30%40% 40% 40% 40%

50% 50% 50%60% 60%

15,989$ 18,358$ 21,319$ 24,280$ 27,833$

1,999$ 2,221$ 2,443$ 2,665$ 2,887$

31,110$ 34,441$ 37,180$ 39,919$ 42,066$

15.14% 16.76% 18.09% 2.53% 20.47%

4.54% 5.03% 5.43% 5.83% 6.14%

All figures are indicative and may be subject to change or amendment.

INCOME Share : This is based on a sliding scale whereby up to an occupancy of 45% the Hotel retains 30% of income, on the next 5% additional occupancy the Hotel retains 40% of income, on the next 10% additional occupancy the Hotel retains 50%,of income and on occupancy of 60% and above the hotel retains 60%.

CASH RETURN ON INVESTMENT Average Unit COST of $685,000

CASH RETURN ON EQUITY at 70% Gearing

Average Unit COST of $685,000

REPAID

TO O

WN

ERS

INC

OM

E

Share of Income Repaid to Hotel for Operational Costs.

Reserve Fund for replacing 3%Furnishings and Infrastructure

Approximate Service & Community Charge Costs $4,200(excluding reserve fund for major works)

OWNERS ANNUAL SALES TO BE RETURNED

MAR

KETING

EXPENSES FO

R

Cost of Sales & Admin & General

76,986$ SALES & ADMIN & GENERAL EXPENSES

20%Costs

ESTIMATED NET INCOME AFTER

53,298$ 65,142$ 59,220$ 71,064$

AZURIPotential Scope of Project 169 Units

HYPOTHESES OF OCCUPANCY

SALES

POTEN

TIAL

Number of Nights (47 weeks) 329Average Annual Occupancy Rate

Average Rental Rate per Unit per Night $450 FORECAST GROSS SALES

Rental pool investment return

19.28%

IRS benefits

IRS is short for Integrated Resort Scheme. Residences sold under the IRS regime must form part of an approved development

of properties, built to international standards, with world class amenities and facilities.

The acquisition of a property for residential purposes by a foreigner under the IRS rules, allows the purchaser, and his/her dependant

family, to reside in Mauritius for as long as they retain ownership.

A property can be acquired off plan or during the construction phase. Under the IRS regulations, a minimum of USD 500,000 investment

is required for the acquisition of freehold immovable property, inclusive of land. However, the majority of other properties

developed to date, have been targeted at a much higher price level and the average price for other IRS properties on the island

is currently USD 1.6 million.

Any of the following will qualify to acquire property under the IRS regulations:

• A non-citizen of Mauritius (including his or her spouse and dependants).

• A citizen of Mauritius.

• A foreign company registered under the Mauritian Companies Act of 2001.

• A person who intends to acquire immovable property under the scheme for residency,

and who is a non-citizen, must make an application for the status of resident (in accordance

with the Immigration Regulations 1973) in respect of himself/herself and his/her spouse

and dependants. When such an application is approved, a residency permit will be granted.

There are two straightforward applications that buyers will need to complete:

• Authorisation to purchase (after signing the Reservation Agreement and depositing 5%

to be held in an escrow account).

• Residency and Occupation Permit after signing the Deed of Sale and paying the taxation;

levied at USD 70,000 or 5% of the purchase price – whichever is the higher.

Pricing

In order to establish the Azuri project with occupants at an early stage the pricing strategy

we have developed is targeted at being affordable to a wider selection of the local and

international market than has previously been possible. Pricing for Azuri starts from USD 500,000.

Computer generated image. Garden view of the townhouses of Opaline.

Azuri - Comparison of Facilities Mauritian IRS projects - comparative pricing

Azuri Akasha AnahitaBelle

RiviereClub Med

La Balise

MarinaMatala

Villas Valriche

Ocean Front Location X X X X

Inland Location X X X X

Under 1 hour in Rush Hour to Port Louis

X X

Golf Course on Site X X

Golf Course Access X X X X X

5 Star Hotel on Site X X X X

Rental Pool Through Hotel on Site

X X X

Marine Facilities on Site

X X X

Health Club on Site X X X X X X X X

Village Centre Commercial Facilities

X X X

Events Hall X

Apartments X X

Townhouses X X

Detached villas X X X X X X X

The developersSales contacts

Computer generated image. Opaline,view of a townhouse interior.

Developers

Established and registered in Mauritius in January 2009, IOREC is a property development company born from a partnership between two conglomerates, GML, the number one company in Mauritius and the giant private equity group, Actis. IOREC boasts a strategic asset pool of land and equity coupled with a team of local and international experts in the field of real estate development. IOREC has at heart its social responsibility; as such, it abides to strict environmental norms such as LEED and HQE and endeavours to put the community at the centre of all its projects.www.iorec.mu

Flacq United Estates Limited (FUEL), founded in 1948 is the largest private land owner on the island of Mauritius with 10,500 hectares of land, of which 8,000 hectares is under cane. The Group is predominantly engaged in the cane growing and sugar manufacturing business but over the years has diversified substantially into other business activities. At June 2010, the Group posted a total assets value of USD 430 million.

GML is a significant economic player within the Indian Ocean and has remained for some time as leader of the “Top 100” mauritian companies and in the premier groups of the Indian Ocean. GML is active across the mauritian economy which represented in 2010 a portfolio of approximately 300 subsidiaries and associated companies. The group had a turnover of USD 550 million as at June 30th 2010 and with more than 10,000 employees is individually responsible for a contribution of 9.1% to the GDP of Mauritius as a country.www.gmltogether.com

Actis was founded in July 2004 as an emerging markets private equity fund. Actis at a glance:• USD 4.8 billion – total funds under management.• 87,383 - number of employees in Actis portfolio companies around the world.• 69 – number of portfolio companies.• USD 4.3 billion – realised from USD 1.7 billion invested.• 234 – Actis staff employed in 10 offices around the globe.www.act.is

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Sales contacts

Disclaimer

The contents of this [brochure / set of documents] including but not limited to any pricing, pictures, artists’ impressions, layouts, specifications, plans, dimensions and/or surface areas (collectively the ‘Information’) are for illustrative purposesonly and should not be relied upon as being an offer to sell or a solicitation of any offer to buy an IRS property. The developer, Haute Rive IRS Company Limited (‘Haute Rive IRS’) reserves the right to change, alter and/or modify at any time and without notice the Information. Haute Rive IRS, including any of its affiliates, employees, officers and/or agents shall not be responsible for any direct or indirect loss, damage and/or prejudice whatsoever and to whomsoever caused as a result of any reliance being placed by any person(s) on any of the Information. The purchase of an IRS property will be subject to the detailed terms, conditions and provisions of a deed of sale to be provided by Haute Rive IRS.

IOREC

Indian Ocean Real Estate Company Limited

8th Floor, Harbour Front Building, President

John Kennedy Street, Port Louis, Mauritius

tel: +230 208 8558/38 fax: +230 208 8938

www.iorec.com

mobile: +230 499 3048

email: [email protected]

www.azuri.mu

www.azuri.mu

life in blue - MCL Immobilier · • Centara Grand Azuri Resort & Spa: an 85 bedroom 5 star boutique hotel. • Retail & restaurant: the intent is to provide a retail and restaurant

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