Hotels, shops, apartments, leisure facilities to be built

14 August 2008

New Complex for Victoria waterfront

Victoria waterfront is to be developed with an extensive new housing, leisure and shopping area for Seychellois as well as tourists to enjoy.

A contract has been signed between Seychelles and international developer Nibras Investments to build a combination of hotels, food courts, apartments and shops, plus facilities for boating and entertainment.

A press release from Seychelles Investment Bureau (SIB) yesterday said the agreement came at the end of talks following the process of tendering, analysing bids and designating the site for development.

The project – which is expected to take between three and four years to complete – will result in significant inward investment and opportunities for local jobs to be created, said the SIB.

Nibras Investments will develop the project, while Seychelles, with a 25% equity stake, will take part in both planning and running the development. 

The developer will link the International Conference Centre and current waterfront boating activities, and more information on this is to follow.

Nibras will be contributing valuable international experience gained from waterfront developments in the Gulf, Mauritius and Cape Town, South Africa.