Rédaction Africa Links 24 with nation.sc
Published on 2024-03-03 14:54:51
The Seychelles Investment Board (SIB) is currently in the process of awarding successful bidders for the first phase of the Victoria Waterfront Development project. Chief executive Anne Rosette announced a ‘cooling off’ period until March 6 to allow aggrieved bidders to appeal to the investment appeal panel for review. If no appeals are lodged, the successful bidders will be awarded. Among the 21 submissions received for the project, all selected bidders are Seychellois investors, according to Ms. Rosette.
She also mentioned that while foreign firms submitted proposals, none were successful in securing the project. Ms. Rosette highlighted the efforts made by SIB to attract interest and investment in the project. Despite initial interest from many individuals, some preferred to become tenants or operate businesses in the area rather than investing in infrastructure development.
The expression of interest phase for the project began on June 20, 2023. Out of the 115 expressions collected, only 71 parties attended the pre-bid meeting, with 25 individuals remaining after the evaluation committee’s shortlisting. After the launch of the request for proposals on October 2, 2023, a total of 21 submissions were received, with proposals for different zones within the project area.
Deputy Chief Executive Lenny Gabriel revealed that Zone E, designed as an artisanal corridor with ten kiosks for local artisans, received no submissions. The various zones within the project include a Creole Village, a commercial area, a waterpark, and reclaimed waterfront land for a boutique hotel and waterfront activities.
Mr. Gabriel explained that the government sets a reserve price per square meter, and the technical aspect of proposed developments holds 70 percent weightage in the evaluation, compared to 30 percent for financial bids. Once the award process is completed, a technical body will oversee project implementation to ensure alignment with the government’s vision and strategy. They will work with successful bidders to finalize project concepts.
In terms of development timelines, Zone D is expected to take 48 months, while Zones B, A, and C will take 24 months each. The initial phase of development will extend from the former playground to the Marine Charter. The Enterprise Seychelles Agency (ESA) is currently managing the remaining tenants operating from the ex-playground, the project site.
Overall, the Victoria Waterfront Development project is a significant endeavor that aims to enhance the area and attract both local and international visitors. With a focus on supporting local investors and developers, the project is poised to bring economic benefits to the Seychelles while preserving the cultural and natural beauty of the region.
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