Johannesburg Stock Exchange-listed real estate investment trust Mara Delta just announced a new hospitality acquisition plan in Mauritius.
Negotiations are underway for Mara Delta to acquire a 45 percent interest in three hotels owned by Mauritius stock exchange-listed New Mauritius Hotels Ltd, Africa Property News reported.
This follows another deal, concluded earlier in October with Mara Delta acquiring the Tamassa Resort for $40 million in Bel Ombre, Southwestern Mauritius, through a sale and leaseback agreement.
With an economy based on tourism and financial services, Mauritius is considered a model of stability. It has one of Africa’s highest per capita incomes, solid ownership rights and a free and independent media. It’s rated one of the top five prime property locations in sub-Saharan Africa along with Cape Town and Sandton, according to New World Wealth Mauritius Investment Review.
By the end of 2015, there were 3,200 U.S. dollar millionaires living in Mauritius — population 1.3 million — with a combined net worth of $12 billion.