Foreign direct investment: real estate management

Foreign direct investment in Mauritius reached Rs. 13.5 billion during the first half of 2023, an increase of Rs. 3.4 billion over the same period in 2022.

As expected, the real estate sector remains the top performer, accounting for Rs. 8.7 billion or over 60% of the total FDI for the period. In second place is the hospitality sector with an investment of Rs.

Europe remains the dominant market, representing Rs 7.2 billion for the first half of 2023. In terms of partner countries, France and South Africa remain the top two markets for FDI with investments of Rs. 2.8 billion and Rs. 1.5 billion respectively.

In general, according to''According to the Mauritius National Accountancy report, private investment is expected to grow by 14.5% in 2023 compared to 9.6% in 2022, while public investment is expected to grow by 40.9% in 2023.

It is interesting to note that the construction sector should show a 28.6% growth this year, with private investment increasing by 21.7% in 2023 and public investment in construction expected to increase by 48.9%. Thus, we clearly see a focus on construction and real estate for both local and foreign private investment as well as public investment.

With regard to foreign direct investment, while the increase in FDI is good news in terms of foreign exchange inflows into the country,''It is important to note that the real estate sector remains marginally productive, unlike emerging sectors such as pharmaceuticals and the blue economy.

After the efforts made by the Economic Development of Mauritius (EDB) at their recent Health and Biotechnology conference last week, we can only wait and see if diversification of foreign investment can become a reality...