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Eden Island announces its 500th sale
A development responsible for 40% of Seychelles foreign direct investment.
Dubai, UAE - Eden Island, the 56 hectare residential and commercial marina development with a selection of spectacular homes located in the heart of Seychelles, is pleased to announce the sale of the 500th home on Eden Island. Eden Island is a significant contributor to the Seychelles economy in that 40% of the total Seychelles foreign direct investment in 2014, and 24.5% in 2015 is a result of Eden Island's development. Located just 200 metres from the capital island of Mah, the project commenced construction in 2006 and has an anticipated completion date for next year. There remains only 69 units left out of the 569 luxury apartments, spacious mansions and private villas.
Investors in homes on Eden Island have come from 40 different countries, with 7% of the number of units sold representing 13% in terms of monetary value of the 500 sales already concluded being attributable to UAE buyers, who were generally attracted to the higher value and larger properties. The development has been successful in attracting large numbers of GCC investors, which is a trend across the archipelago. People who have bought and sold properties on Eden Island over the past 7 years since completion of the first home have achieved up to 8% pa compounded growth in prices. The Eden Island rental pool also offers the opportunity for investors to earn a solid rental yield. To support this, the developer also offers two year rental guarantees on selected properties.
The UAE is the fourth largest inbound tourism market to the Seychelles with 13,845 visitor arrivals in 2014 to 21,178 in 2015, which represents a 53% increase year on year. The Seychelles welcomes residents of the Emirates, with over 20 flights per week from the UAE with Air Seychelles - Etihad Airways code shares and Emirates, and a visa waiver programme granting all foreign visitors a tourism visa on arrival, including UAE nationals.
Eden Island is unlike anything else in Seychelles as it is neither a resort nor a hotel where people come for a week or two; this is a property development where owners' families qualify to apply for residency of Seychelles. Homes are sold on a freehold title basis and the purchase of a new home is free of any transfer taxes and sanction fees. The exclusive properties are well-appointed and immaculately maintained, making them valuable assets for end users and investors alike, and excellent options for holidaymakers seeking comfortable, elegant accommodation with excellent amenities including a chic, state-of-the-art hotel with the island's best meeting, incentives, conference and event facilities on the island and Africa's biggest television screen; a shopping centre, and commercial precinct including restaurants and bars.
Eden Island is built on a reclaimed coral reef, and the properties have a distinctly Seychelles design, with strong Creole and Asian influences, boasting large verandas and open rooms, and overlook immaculate views of the ocean, mountains, forests, and other nearby islands with convenient access to moorings. Super yacht owners can also find berths for their vessels up to 100m in length in the international deep-water marina situated on the development. Another unique advantage to owners is that they can select furniture and decor from a range of distinct Seychelles styles and object d'art.
Eden Island has not only contributed 40% to the foreign direct investment of the Seychelles, but also created 700 jobs so far, and will have created 1,400 jobs by the time the development is complete. The Seychelles economy will continue to diversify beyond tourism with areas like finance, the blue economy and tuna processing increasing in prominence.
-Ends-
Note:
Final phase apartments starting from USD 455,000
Maisons USD 1,300,000
Villas USD 2,745,000
Media Queries:
Laura Westmacott | Bianca Riley I Ahmad Marei
TOH Public Relations
T: +971 4382 8900
E: firstname@tohpr.com
Press Release 2016
