New Mauritius Hotels Limited, the country's leading tourist operator, unveils the local, regional and international ambitions of Semaris Limited, its new subsidiary whose objective is to own and develop the group's real estate shares (excluding hotels).
"The group owns real estate assets with strong development potential located in Mauritius, Seychelles and Morocco. The fact that we now have an entity dedicated to real estate development makes it possible to group all these assets under a single umbrella and thus to focus specifically on this activity," says Stéphane Poupinel of Valencé, 39 years old, Managing Director of Semaris Limited. "My mission is to enhance the value of this property by implementing projects in line with the Group's philosophy and values and by generating acceptable profitability for our shareholders as soon as possible. »
In an interview in the latest issue of Beachcomber News, the group's corporate newspaper, he described Beachcomber's real estate project on Mauritius' west coast. First, within the future 4-star Les Salines Beachcomber Resort and Spa, 56 family suites will be developed under the regime known as the Invest Hotel Scheme.
"behind the hotel, Semaris owns a 365-acre site on which a major real estate project is being designed. This project will be developed under the Property Development Scheme (PDS) and will include an 18-hole golf course and 220 luxury villas that will be available for sale to Mauritians and non-Mauritians alike," explains Stéphane Poupinel de Valencé.
In addition to Morocco, where the group is committed to "large-scale financial development", NMH owns 150 acres in Praslin, Seychelles. According to the Managing Director of Semaris Limited, "this land has very interesting real estate potential and we are currently in the feasibility study phase to determine the type of product we will develop on this site. »
Real estate development is in addition to a rich hotel activity. For the first months of its current financial year, NMH achieved a turnover of Rs 8.16 billion, up 14% compared to the same period in 2016/2017. After-tax profits fell to RS 467.6 million (Rs 507.8 million after nine months of operations in 2016/2017). Current liabilities increased to Rs 5.6 billion at 30 June 2018 from Rs 8.8 billion at 30 September 2017. During the same period, non-current liabilities amounted to Rs 17.3 billion (Rs 15.6 billion at the end of September last year).