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MCB Capital Markets acted as Transaction Advisor to a consortium of investors on the structuring and capital raise for Le Domaine de Grand Baie, an institutional long term pre-let senior serviced residence, which opened on 1st October 2021

14 Oct 2021

We are pleased to announce the official opening of Le Domaine de Grand Baie, a 155 units senior serviced residence located in the north of Mauritius. This property is the first senior residence in Mauritius to be developed under the requirements of a specialist operator, AEGIDE DOMITYS. MCB Capital Markets was instrumental in structuring the financing of this long-term pre-let development project, which is wholly owned by institutional investors. 2Futures was responsible for developing the property.

Le Domaine de Grand Baie is designed to meet the expectations of "migrant retirees" with an exceptional offering that will allow them to spend their retirement in the sun and on the golf course. The residence welcomes retirees, their families and friends for both long and short term stays, with the assurance of hospitality services that have become the hallmark of AEGIDE-DOMITYS over the past 20 years. For more information, please visit https://domainegrandbaie.com/fr/ 
 
Rony Lam, Chief Executive Officer of MCB Capital Markets, commented: “It took our team’s financial structuring ingenuity combined with our partners’ expertise in senior residence management and property development to bring this unique project to fruition. We developed a bespoke investment and financial structure targeted at institutional investors, paving the way for Mauritius based property to access new sources of capital.”
 
Frederic Walther, Managing Partner of AEGIDE DOMITYS commented: ”I am pleased to announce the official opening of Le Domaine de Grand Baie in Mauritius, the first "escape" residence of the AEGIDE DOMITYS Group abroad. It is the latest addition to the group, and the culmination of a daring and innovative project. As a pioneer in this market, we are convinced that the concept of DOMITYS senior serviced residences is universal.”
 
Junaid Salehmohamed, Managing Director of 2Futures, commented: “We are very pleased with the outcome of our first partnership with the MCB Group and AEGIDE DOMITYS. It was both a challenge and an achievement to deliver such a project on time, on budget and to a high standard amid the pandemic. We have demonstrated our ability to successfully manage specialized projects for institutional investors, as well as international operators.” 
 
 
About MCB Capital Markets 
 
MCB Capital Markets is the investment banking and asset management arm of MCB Group, the largest banking group in Mauritius. The company provides corporate finance advisory, asset management, private equity, securities and registry services. Based in Mauritius, the team works with clients wishing to start and/or grow their operations in Africa, and helps them develop solutions that meet their financing, strategic and investment objectives. For more information, please visit https://www.mcbcapitalmarkets.mu/en/ 
 
About AEGIDE DOMITYS
 
AEGIDE was founded in 1998. Its subsidiary DOMITYS manages 15,000 apartments across more than 130 senior serviced residences in France and Belgium. Each residence typically consists of apartments of between one and two bedrooms with a “Club area” of over 1,000 sqm encompassing a swimming pool, a restaurant, spa and fitness facilities, a beauty salon and a library. The residences are designed for independent or fragile citizens looking to age in a secure, comfortable and friendly atmosphere. AEGIDE DOMITYS has more than 3,600 employees and generated annual revenues of EUR 375m in 2020. For more information, please visit www.domitys.fr
 
About 2Futures
 
2Futures is a leading real estate developer based in North of Mauritius and has been at the forefront of the Mauritian luxury real estate market since 2007, creating luxury residential and institutional grade commercial properties. The company has developed and built over 608 high end residences and 2 commercial properties on the island to date with combined development values of USD 467 million. For more information, please visit www.2futures.com

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