Omaxe To Enter Into Mauritius Real Estate

After success into Dubai, real estate player Omaxe is all set to enter the Mauritian property market with a plan to develop a fifty acre residential project.

The Delhi-based company has identified a project of fifty acres and planning to develop a residential township there. The land for the township is probably to be provided by the government and the company is expecting to receive the ownership of the land within a week. Omaxe would carry out the Mauritian project alone.

The company would develop a residential project about thirteen hundred crore rupees through SPV Golden Crescent RED and General Trading Ltd. Another project worth fifteen hundred crore rupees would be developed through SPV Marine Sands.

Omaxe said in may that it would develop ten lakh affordable housing units with an investment of eighty thousand crore rupees in India over the next half decade. For this purpose, it has set up a new subsidiary named National Affordable Housing and Infrastructure Ltd.