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Seychelles' Victoria Waterfront development to start early 2024

Victoria, Seychelles | October 11, 2023, Wednesday @ 15:14 in Business » INVESTMENT | By: Betymie Bonnelame | Views: 7532
Seychelles' Victoria Waterfront development to start early 2024

The Waterfront Development project is part of the approved Victoria Masterplan 2040. (Seychelles News Agency)

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The Seychelles' Victoria Waterfront project will start in early 2024 as scheduled if everything goes according to plan, said Vice President Ahmed Afif on behalf of the Minister for Lands and Housing, Billy Rangasamy, in response to a question raised in the National Assembly on Tuesday.

The question of when the project will start in view of the fact that tenants had been asked to vacate the area, was asked by Wilbert Herminie, a proportionate member of the United Seychelles, the main opposition party.

Aimed at making Victoria, the capital, livelier, the Waterfront Development project is part of the approved Victoria Masterplan 2040. It is to be carried out in the area most people know as the ex-playground.

Originally proposed in 2019, the first Victoria Waterfront Masterplan has been revised to include more human-centric developments to reflect the culture of Seychelles, as well as provide activities for families, youths, and visitors.

Earlier this year, the chief executive of the Seychelles Investment Board (SIB), Anne Rosette, said that around 50 interested investors had been shown the Victoria Waterfront project.

The project's planning was launched in 2022 and is expected to be completed on November 11. The execution will begin early in 2024. The project is expected to be completed in five years.  

Afif said that investors had until September 1 to submit their expression of interest and project concept but that the time frame was extended for a week because some of the investors were asking for more time for them to be able to get commitment with their bank.

"We expect that by the end of this year, the Seychelles Investment Bureau will have been able to complete the evaluation and approval of the projects. If all goes well early 2024 the project will start. Of course more detail on the project can be given by the Ministry for Investment," said the Vice President.

Herminie asked whether the government would be assisting the tenants who were asked to leave the area and thereby lost their income earner.

Afif said that although the Ministry of Investment can assist those tenants, the burden of finding a new location lies on the businesses and that the government will remain a facilitator.

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Tags: Victoria waterfront project, Victoria Masterplan 2040, Seychelles Investment Bureau

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