4 March 2024
The Seychelles Investment Board (SIB) have announced that investors who have successfully bid for the first phase of the Victoria Waterfront project, will soon be awarded their lots and can start the process for the development of the area, according to a report by Seychelles News Agency (SNA).
The announcement was made on Friday (March 1, 2024) by the chief executive of the Seychelles Investment Board (SIB), Anne Rosette, in a press conference in which she said that there will be a cooling-off period until March 6 and bidders who have not been accepted can appeal. If there are no appeals, the successful bidders will be awarded their lots.
The Victoria Waterfront Project is aimed at making the Seychelles capital city of Victoria livelier and is part of the approved Victoria Masterplan 2040. A total of 21 submissions have been made for the respective zones and the initial phase of development will extend from the former playground to the Marine Charter area.
The Victoria Waterfront project will feature five zones with the first being the 5,000 square metres for the Creole Village that will feature a Creole restaurant and entertainment centred around the Creole culture. Zone B will be an area dedicated to commerce, where it will be divided into three plots of 1,100 square metres each and will feature entertainment and tourism activities.
Zone C has 4,500 square metres and will feature a water park with water-based activities for kids and adults, and the biggest development will be an area that will be reclaimed land featuring a boardwalk, a hotel and other activities. The request for proposals for the project was launched in October 2023 and the successful bidders include one for Zone A, 11 for Zone B, four for Zone C and five for Zone D. Zone E, which is an area that has been designed for artisanal kiosks, has received no submissions.
“It has been quite a long process, as we wanted to give ample time for submissions, where we received over 100 expressions of interest, which was then narrowed down to those that were successful,” said Rosette, who confirmed that all bids that have been awarded are for Seychellois investors but they did receive submissions from foreigners as well.
As part of the Victoria Waterfront project, two multi-story car parks are expected to be constructed, which will alleviate the pressures of other parking areas, especially with the waterfront being a pedestrian only zone.
These successful bidders are only part of phase one of this project, which will be at what most people refer to as the old children’s playground, while phase two will see the development stretch all the way to the opposite side of the bay, next to the National Information Services Agency (NISA) offices.
Seychelles Nation reports that Deputy chief executive, Lenny Gabriel, disclosed that Zone E, designed as an artisanal corridor with ten kiosks for local artisans, received no submissions. Zone A will host a Creole Village spanning 5000 square metres, featuring a large creole restaurant and creole-themed entertainment.
Zone B, designated as a commercial area, offers three plots of approximately 1100 square metres each for various tourism and entertainment activities. Zone C will house a waterpark covering 4500 square metres, including the existing lake, while Zone D will be reclaimed waterfront land, with plans for a boutique hotel and waterfront activities.
Mr. Gabriel clarified that while the government sets a reserve price per square metre, the technical aspect of proposed developments holds 70 percent weightage in the evaluation, compared to 30 percent for financial bids.
Upon completing the award process, a technical body will oversee project implementation to ensure alignment with the government’s vision and strategy. The body will engage with successful bidders to finalise project concepts.
Mr. Gabriel outlined development timelines, specifying 48 months for Zone D and 24 months for Zones B, A, and C. 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.
