(Seychelles News Agency) - Construction for The Residences at Meliá Seychelles is well underway, with the development expected to be completed by the first quarter of 2026, which will then be followed by the official opening.

Already the main buildings for the business and leisure resort project, undertaken by the Seafront Development Ltd, have reached roof height. The project is located near L’Escale Resort and across from Eden Island, on reclaimed land on the east coast of Mahe, the main island, near the capital Victoria.

The construction site (Seychelles News Agency) Photo license: CC-BY

This five-star development will showcase the Spanish Meliá Hotel Group’s debut in Seychelles, offering 120 hotel rooms, 68 branded apartments, a conference centre, a commercial hub, multiple restaurants, a spa, gym, a 48-metre infinity pool, and Seychelles’ first rooftop bar on the 6th floor overlooking the Eden Island and its superyacht marina and St. Anne Marine Park.

Speaking to the media on Thursday, the project development manager, Rod Thorrington, said that “The Residences at Meliá Seychelles allows investors to acquire 68 freehold title apartments, priced between $500,000 and $1.5 million, all managed by world-renowned Meliá Hotels & Resorts. Apartment owners will enjoy full access to the hotel's extensive amenities.”

Infinity pool (The Residences at Meliá Seychelles) Photo license: CC-BY

He explained that as the first branded apartments project on the island, there will be 40 units in the South Block and 28 in the North Block. The South Block apartments come fully furnished and are included in the 5-star Meliá Resort’s rental pool for renting out to hotel guests. In addition, the rental pool offers owners 42 days of complimentary usage each year.

“The first twenty buyers in the South Block will benefit from a guaranteed minimum annual net yield of 5 percent for the first 3 years,” said Thorrington.

The 28 apartments in the North Block will be sold as private residential units for owners to live in or for rental to their long-term tenants, who will have access to hotel amenities. And they will also come fully furnished.

Thorrington further elaborated on the background behind the project, specifically the circumstances behind the location of the development. The project is being undertaken where an international medical centre proposal would have been situated, had it been completed many years ago.

Thorrington said that “when the previous developer for what would have been the Seychelles International Medical Centre dropped that project, around 16-17 years ago, the lender, Nouvobanq, took over the lease. Seafront Development Ltd acquired the lease back in 2020.”

Rear view, overlooking Eden Island and St. Anne Marine Park (The Residences at Meliá Seychelles) Photo license: CC-BY

Apart from the branded residences, the hotel and conference facilities, The Residence at Meliá Seychelles will also have a private hospital. This facility is expected to serve both guests of the hotel, residents and locals as well.

Thorrington added that as of yet, they are in discussions with an operator for the hospital and, therefore, information is limited regarding this.

Seafront Development Ltd is a collaboration between Land Marine Ltd, a local port management and marine logistics company, and UAE-based ASB Limited, which is a wholly owned subsidiary of Albwardy Investment LLC. Albwardy Investment LLC already has a diverse portfolio within the hospitality industry, including the Four Seasons Seychelles Resort.

Thorrington clarified that Seafront Development Ltd is registered in Seychelles and Land Marine Ltd owns 51% percent while Albwardy Investment LLC owns 49 percent.

The project is being built by the Green Island Construction Company (GICC).

Aerial view (The Residences at Meliá Seychelles) Photo license: CC-BY

The recruitment for staff will start next year with the aim of officially opening their doors early in 2026. In total, around 400 jobs will be created, and they plan on hiring as many qualified Seychellois as possible.

Thorrington said that this project is also an opportunity to market Seychelles and various investment opportunities to the rest of the world.

“We have launched our international sales and marketing campaign, through Pam Golding International, which has a far reach. This is important as it speaks to a continued effort to attract foreign investments to Seychelles…We are also investing and creating value, in return we’ll see opportunities to have sales taxes, VAT, income tax, property tax and obviously all the other taxes that go along with operations for Seychelles. We are very proud of our latest investment, especially at an international level in Seychelles,” he said.

Founded in 1956 in Mallorca, Spain, Meliá Hotels International has a portfolio of more than 347 hotels, across more than 40 countries and 10 brands. Ranking No. 1 in Spain and No. 3 in Europe, Meliá Group boasts an exceptional loyalty programme that enables members to benefit from their global portfolio. In 1996, it was the first hotel company in the world to go public. Today, it is still a family-run business, headed by Gabriel Escarrar Jaume, son of the original founder, Gabriel Escarrer Julià.