Mauritius, renowned for its pristine beaches, is emerging as a new frontier for healthcare investment. Expatriates seeking superior medical care and a lucrative private sector are reshaping Mauritius into a medical hub, thereby unlocking opportunities in real estate investment.
Establishing Mauritius as a center of excellence in healthcare
The evolution of healthcare real estate financing in Mauritius has caught the attention of investors across the Indian Ocean. The private sector is keenly identifying opportunities driven by aging demographics and expatriates’ demand for enhanced healthcare services.
Alternative investments in Mauritius in healthcare are actively promoted through strategic initiatives from both the public and private sectors, positioning Mauritius as a preferred destination for high-quality healthcare facilities. This is particularly advantageous for patients from African countries who face challenges accessing healthcare in Europe due to cost, currency, visa, and other restrictions.
Mauritius : Rising technological hub for healthcare
Despite its relatively small size, Mauritius presents substantial potential bolstered by robust sectors such as hospitality, finance, and real estate, making it an appealing investment market. The island is well-positioned to offer private healthcare services to patients who might otherwise seek treatment in India or Europe.
The expansion of Falcon Healthcare Group, aspiring to become a leading healthcare provider in Mauritius and elevate the island to a regional medical hub serving nations like Madagascar, Seychelles, and Eastern and Southern Africa, underscores this transformative trend.
Falcon’s leadership has initiated the construction of a third hospital in western Mauritius. This state-of-the-art regional facility will cater to nearly 150,000 residents in the western region, enriching healthcare options for both patients and healthcare professionals. It will feature cutting-edge healthcare facilities, advanced equipment, and innovative technologies.
Strategic healthcare partnerships
Falcon Healthcare Group is led by prominent investors, including impact investor Safyr Capital Partners, Zouberr Joomaye, and Filatex Group, a leading company in renewable energy and real estate based in Madagascar. Additionally, Falcon has partnered with Artemis Medicare, a pioneering healthcare provider based in New Delhi, India.
These healthcare investments in Mauritius are pivotal in establishing a unique platform that integrates companies from Mauritius, Africa, and India. With strong private investor support, this initiative aims to position Mauritius as a regional healthcare hub. Expanding the range of specialized care and treatments can enhance the quality of life in Mauritius and stimulate the economy through increased investments and medical tourism.
API Mauritius & Indian Ocean Property Forum : Seizing investment opportunities
The second annual API Mauritius & Indian Ocean Property Forum, held on Thursday, June 13, 2024, at the InterContinental Hotel & Resort, highlights opportunities and insights gained across diverse markets. It emphasizes strategic financing options and alternative assets, including healthcare real estate.
Somaya Joshua, Head of Absa Africa, commented: « Absa Commercial Property Finance was honored to contribute to the Growth Levers panel at the API Mauritius Property Summit. Our local insights and market presence enable us to structure deals using various financing strategies, including green financing, showcasing our expertise and commitment to the African real estate market ».
Murray Anderson-Ogle, Managing Director of Marketing and Business at API Events, stated: « Mauritius is emerging as a contender with India and Europe by offering world-class healthcare to patients across Africa. It’s an ambitious vision, but with the right financing and expertise, it could become a reality, driving economic growth, improving living standards, and opening up exciting new opportunities in real estate. »
The API Mauritius & Indian Ocean Property Forum panel underscores promising opportunities, strategies, and tactics for Mauritius’s real estate sector.
Addressing Healthcare Challenges in Mauritius
Deva Marianen, CEO of Safyr Capital and a key stakeholder in Falcon Healthcare Group, acknowledges the challenges facing healthcare in Mauritius but remains optimistic about overcoming them.
« Navigating permit procedures remains challenging. There’s also a shortage of specialized personnel, so we’ve forged strategic partnerships with universities to train local talent. Providing top-tier doctors with cutting-edge platforms is crucial to our business model, enabling them to utilize the latest global medical technologies in patient care », she elaborates.
