State Land Development Co. Ltd.

What is the Highlands project all about?

It?s about building a new city out of scratch. Highlands will be an entirely modern setup boasting premium residential, commercial, recreational and business facilities. It will be a high performance living and working zone, dedicated to the service sector. There will be no industrial zone anywhere nearby. It is designed to cater for the ambition of making Mauritius a knowledge hub. The city starts with the University of Mauritius and ends with the medical schools of Belle-Rive.

Another property development stint?

Absolutely not. This is massive development work worth USD 3 billion (Rs 100 billion). The project is spread over 1 060 hectares (2500 acres). An area five times bigger than Port-Louis city centre. It?s Quatre-Bornes and Rose-Hill added together. Building this city will take at least ten years.

Where does the land come from?

The State bought the land from the sugar industry under the Illovo deal. State Land Development Ltd was incorporated in 2001 to add value to the land and make it yield profit. Government has earmarked a certain area for public infrastructure works.

Which public facilities will be housed there?

The new city will boast a government administrative complex equal in size to Port-Louis city center. Most strategic government services will move to Highlands. The Bagatelle Dam will be another landmark infrastructure with a waterfront around its shores. The dam will be at the heart of a sophisticated leisure complex.

How will the project be funded?

We are looking for public-private partnership agreement with world-class developers. We are giving the land. We want private operators to develop and market it. Of course, they will have to plan according to our specifications. But they will be taking the financial risk. The onus of making the investment yield profits will rest upon them. Everything, save the dam, will be built at their cost. That includes the government administrative complex.

What is the value of the land government is staking on this project?

It is purely agricultural land for the moment. We will have to convert it for commercial use before assessing its market value. We are currently in the process of appointing a team to do a feasibility study for the project. This study will include a proper valuation of the land.

How do you propose to attract high profile developers needed for this project?

We are posting ads in local and international media by the end of this week, inviting expressions of interest from developers worldwide. The deadline will be 30th March 2007 at 16.00 hours, local time. Details regarding this are available on our site - www.sldc.biz

The project sounds too good to be true. What time frame are you working with?

The first results should be visible within three years. The best bidders will be short-listed as per their financial muscles, experience and track record, by mid-2007. They will have to compete for the contract on the strength of their ideas. We will choose the most innovative concept. That should be done by early 2008. We do not want to waste time.

What is the expected economic and social impact of such a project?

There will no doubt be a multiplier effect on the economy. The construction, banking and financial sectors will be boosted up. Once operational, the city should sustain at least 25, 000 jobs. As for the social impact, this project augurs a total new lifestyle for Mauritians. Imagine walking down to work, shop, play or sleep? all this in a pristine environment. It will be a dream come true.