Nouvo Zil, Nouvo Lavenir Ile Soleil project |10 March 2014

Financial, legal, social due diligence undertaken

The necessary financial, legal and social due diligence have been undertaken for all applications and bids submitted for the first Nouvo Zil, Nouvo Lavenir Ile Soleil project, the 2020 Development (Seychelles) team has said.

Those who submitted applications and bids are being informed as to whether or not their application or bid was successful.

The applications and bids for the simplex, duplex, condominium and commercial plots were closed on January 23, 2014.

A communiqué from the 2020 Development (Seychelles) Ltd says it is continuing to seek suitable investors in the large tourism plot which remains on the market for the floor price of R3,895 per square metre and has in an effort to boost greater market interests, decided to double its commission to finders of suitable investors in the tourism property, from 2.5% to 5% of the total consideration.  

With respect to the commencement of infrastructure and utilities works on Ile Soleil, 2020 Development (Seychelles) Ltd has announced that its plans, developed by GIBB, its consulting engineering company, have been approved by the Seychelles Planning Authority. It adds that 2020 Development (Seychelles) Ltd is undertaking negotiations with various contractors for the most desirable value before infrastructure and utilities work can begin on Ile Soleil.

Originally work on the infrastructure and utilities were expected to start by April 2014 but the 2020 Development (Seychelles) Ltd has said that once contracts are signed with the successful contractor or contractors and considering a mobilisation period of one month, the work on Ile Soleil will start by June 2014, meaning it will remain on target for completion by end of 2015.

The 2020 Development (Seychelles) Ltd remains committed to maintaining the highest level of quality development of the government of Seychelles’ first Nouvo Zil, Nouvo Lavenir Ile Soleil project.