About Semaris

Semaris owns and develops the non-hotel real estate assets formerly owned by New Mauritius Hotels Limited, with the principal objective of unlocking value from the available land bank located in Seychelles, Morocco and Mauritius

Semaris, previously known as Alto Development Ltd, is a public company incorporated on the 23 February 2018 in Mauritius, bearing business registration number C18153946, with its registered address located at Beachcomber House, Botanical Garden Street, Curepipe.

Semaris, through its various subsidiaries, develops essentially luxury residential real estate assets on this land bank and most of the properties will be sold to generate returns for its shareholders. The property assets aims to have a great appeal to High Net Worth Individuals, not only for the geographical position, but also for the quality proposed.

The construction will involve the flair of renowned architects and land developers to produce the most coveted, family-friendly residences that will delight the target client base.

 

The design incorporates the latest trends in the market, balancing suitability with elegance.

Semaris works closely with partners with whom they have a long-standing relationship. These players have considerable experience in property development, unique insights in design and architecture, as well as a pool of high-end clients that the partners can tap into to help realise their respective targets.

Leadership

Board Of Directors

Semaris will rely on the skills of its Board of Directors to create value out of the land bank.

The Board will bring a well-balanced set of skills to the company, ranging from finance to sales and marketing

Management

Semaris will have no employees. Instead, a management contract is in place between Semaris and New Mauritius Hotels Limited (NMH) to plan and execute the strategies of the Company.

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    Laurent
    PIAT (Born in 1978)
    Executive Director - Appointed in: November 2022
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    Karine Marie
    CURÉ (Born in 1978)
    Executive Director - Appointed in: July 2023 – up for re-election at the next Shareholders’ Meeting
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    Stéphane
    POUPINEL de VALENCÉ (Born in 1978)
    Non-Executive Director - Appointed in: September 2018
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    Gilbert
    ESPITALIER-NOËL (Born in 1964)
    Non-Executive Director - Appointed in : February 2018
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    Thierry
    REY (Born in 1962)
    Non-Executive Director - Appointed in: November 2022– up for re-election at the next Shareholders’ Meeting
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    Paul
    TSANG MIN CHING (Born in 1963)
    Non-Executive Director - Appointed in: November 2022
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    Sidharth
    SHARMA (Born in 1974)
    Chairperson, Independent Non-Executive Director - Appointed in: December 2019
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    Youk Siane (Patrick)
    YIP WANG WING (Born in 1958)
    Independent Non-Executive Director - Appointed in: July 2023 – up for re-election at the next Shareholders’ Meeting
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    Monisha
    BHEENICK-KALACHAND (Born in 1976)
    Independent Non-Executive Director - Appointed in: November 2022 up for re-election at the next Shareholders’ Meeting
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    Drishti
    HURRYBUNGS (Born in 1992)
    Executive Director - Appointed in: May 2024 – up for re-election at the next Shareholders’ Meeting
Executive Director - Appointed in: November 2022
Laurent PIAT (Born in 1978)
  • Qualifications

    Global Executive MBA from IESE Business School (2021); Master from Sup de Co Montpellier (2002)

  • Professional Journey

    • Worked as Project Manager for Groupe Union from 2002 to 2007
    • Joined New Mauritius Hotels Limited as Project Coordinator in September 2007
    • Appointed as Directeur Général Délégué of Beachcomber Hotels S.A. in Morocco in 2010 and as Directeur Général of Domaine Palm Marrakech S.A. in 2011
    • CEO of Semaris since July 2023

    Skills & Experience:
    • Promotes effective teamwork where people feel supported and appreciated
    • Naturally explorative and generates bold ideas to secure competitive advantage
    • Tackles complex challenges with excellent business acumen and analytical skills, ensuring optimal solutions are defined and investment made is safeguarded and levered for full advantage and return
    • Managed and promoted a large-scale integrated mixed-used development in Marrakech, including a 5* luxury hotel (Fairmont Royal Palm Marrakech), a championship golf course and about 150 luxury villas. The position involved taking over the responsibilities of 2 subsidiaries in Morocco as General Manager, providing leadership for a team of 30 people, resourcing and managing local and international consultants, driving multiple negotiation rounds with authorities, securing financing and leading a real estate sales team and network

Executive Director - Appointed in: July 2023 – up for re-election at the next Shareholders’ Meeting
Karine Marie CURÉ (Born in 1978)
  • Qualifications

    Master of Science In Marketing (Paris Dauphine University, France), Postgraduate Diploma in Marketing and Communication (ISG Paris, France); Senior Executive Programme (INSEAD): Transition to General Management and Strategy Execution for Business Leaders

  • Professional Journey

    • Started her career in the field of advertising and communication in Paris.
    • Upon returning to Mauritius, worked in the tourism, leisure and hotels sectors as well as in Corporate Marketing & Communication
    • Former Chief Marketing & Communication Executive of Rogers & Co. Ltd
    • Joined NMH Group in February 2019 to lead the Brand & Communication strategies, CSR and Corporate Affairs
    • Chairperson of Fondation Espoir Développement Ltée

    Skills & Experience:
    • Extensive experience and proven track record in strategic brand building, marketing and corporate affairs
    • In-depth leadership skills with demonstrated success in leading teams
    • Strong community-based relations with a focus on driving meaningful and impactful change
    • Promotes and cultivates a collaborative environment where individuals feel encouraged and recognised

Non-Executive Director - Appointed in: September 2018
Stéphane POUPINEL de VALENCÉ (Born in 1978)
  • Qualifications

    MBA (Paris Dauphine-Sorbonne); Postgraduate Diploma in Business Management (Curtin University); B.Com Management and Marketing (Curtin University); Professional Development Programme (Cornell University); Senior Executive Programme (London Business School), International Project Management (INSEAD)

  • Professional Journey

    • CEO of New Mauritius Hotels Limited since July 2023
    • Former Managing Director of Semaris Ltd and Chief Officer – Real Estate & Construction of NMH
    • Past Managing Director of Medine Property, the property arm of Medine Ltd
    • Began his career at Panagora Marketing Co. Ltd, part of the Eclosia Group, in sales and marketing


    Skills & experience:

    • In-depth knowledge and experience of NMH’s key operations
    • Focus on people empowerment and community development
    • Extensive experience in leadership, property development and sales & marketing

Non-Executive Director - Appointed in : February 2018
Gilbert ESPITALIER-NOËL (Born in 1964)
  • Qualifications

    Master of Business Administration from INSEAD. BSc University of Cape Town, BSc (Hons) Louisiana State University

  • Professional Journey

    • CEO of ENL Limited and of ENL Group
    • CEO until June 2023 and Chairman as from 5 July 2023 of New Mauritius Hotels Limited
    • Past CEO of ENL Property Limited
    • Past Operations Director of Eclosia Group
    • Past President of the Mauritius Chamber of Commerce and Industry, the Joint Economic Council and the Mauritius Sugar Producers Association; past Vice-President of the Mauritius Export Association


    Skills & experience:
    • Skilled at creating high-performing teams
    • Strong proponent of entrepreneurship, innovation and initiative
    • Staunch advocate of and extensive experience in public-private partnerships for economic stewardship
    • Sound understanding of business dynamics in Mauritius

Non-Executive Director - Appointed in: November 2022– up for re-election at the next Shareholders’ Meeting
Thierry REY (Born in 1962)
  • Qualifications

    Diploma in Land Surveying

  • Professional Journey

    • Joined ENL in 1999 to create Espral, the ENL group’s first instrument for land management and development
    • Developed the master plan for Bel Ombre and the Moka area in the early 2000s along with an array of other property developments within ENL land and other landowners
    • Upon creation of ENL Property, he took on new responsibilities as Business Development Director and has been pushing, among others, for ENL’s entry in the green electricity sector

    Skills & Experience

    • Extensive experience in the real estate sector, including property sales, marketing and value assessments

    • Proficient negotiation skills.

Non-Executive Director - Appointed in: November 2022
Paul TSANG MIN CHING (Born in 1963)
  • Qualifications

    Committee : Member of the Audit and Risk management committee

  • Professional Journey

    • Started his career at De Chazal du Mée in 1985 and was responsible for auditing several large corporates in Mauritius
    • Joined ENL as Project Accountant in December 1994 to oversee financial aspects of projects
    • Appointed Group Financial Accountant in 2002 and subsequently Group Head of Finance

    Skills & Experience:
    • Extensive experience in strategic planning, preparation of consolidated financial statements, feasibility studies and structured debt financing

Chairperson, Independent Non-Executive Director - Appointed in: December 2019
Sidharth SHARMA (Born in 1974)
  • Qualifications

    Doctorate and master’s degree in Telecommunication from the University of Bristol and bachelor’s degree in Electrical Engineering from the University of Cape Town

  • Professional Journey

    • Group Chief Executive Officer of RHT Holding Ltd and its subsidiaries. The Group is active in the mobility and investment sectors.

    • Chartered Engineer registered with the UK Engineering Council and a Fellow of the Mauritius Institute of Directors

    • Council member of the National Committee on Road Safety. Advocate for a greener public transportation system with a keen interest in electric vehicles

    • Published several technical papers in industry journals on dynamic cellular network planning and wireless technologies

    • Worked for British Telecoms Plc before joining Island Communications Ltd., a portfolio company of RHT Ventures as Managing Director

    • Past chairperson of the Audit and Risk management comittee of Semaris Ltd.

    • Past Board member of the Mauritius Institute of Directors, Courts Mammouth, Globefin Management Services Ltd and 4Sight Holdings Ltd

    Skills & Experience:

    • Strong expertise in strategy, innovation, sustainability, operational management, investment management, mobility and technology

Independent Non-Executive Director - Appointed in: July 2023 – up for re-election at the next Shareholders’ Meeting
Youk Siane (Patrick) YIP WANG WING (Born in 1958)
  • Qualifications

    DEA in ‘Politique et Analyse Economique’, Maîtrise ès Sciences Economiques and in Econométrie (University of Dijon, France)

  • Professional Journey

    • Joined the Ministry of Economic Planning and Development as an Economist in 1985; moved subsequently to the Ministry of Finance
    • Appointed Director of Fiscal Policies in 2001. Led reforms of the taxation system, including customs tariff phase-down, VAT introduction, income taxation overhaul and creation of the Mauritius Revenue Authority
    • As Head of the Budget Strategy and Management Directorate, spearheaded the shift to Programme-Based Budgeting within a Medium-Term Macro-Fiscal Framework
    • Served as Deputy Financial Secretary for 7 years
    • Sat on the Board of Directors of several State bodies and companies, including the Stock Exchange Commission, the Mauritius Revenue Authority, SIC Ltd and also chaired the Statistics Board
    • Now retired from the Civil Service

     

    Skills & Experience:

    • Strategic foresight, planning skills and discerning thinking
    • Structured analytical approach to issues
    • Solid understanding of issues related to national development, macroeconomic stability, National Budget and fiscal sustainability
    • Extensive experience in public sector structures, rules and mechanisms

Independent Non-Executive Director - Appointed in: November 2022 up for re-election at the next Shareholders’ Meeting
Monisha BHEENICK-KALACHAND (Born in 1976)
  • Qualifications

    Master of Science in Accounting & Finance, London School of Economics; Bachelor of Science in Business Management & Finance, King’s College London; Securities and Financial Derivatives Representative (Securities Financial Authority, UK)

    Committee: Chairperson of the Audit and Risk Management Committee

  • Professional Journey

    • Started her banking and finance career at ABN AMRO Rothschild Bank, London as an equity trader on the Pan European desk and a business analyst on the MNC desk
    • Joined HSBC Corporate & Investment Banking in Mauritius in 2000, as Portfolio/Relationship
    Manager for MNCs, larger conglomerates and parastatal bodies
    • Recruited by Groupe Caisse d’Epargne in 2004 as Head of Corporate Banking to devise and implement the strategy for the launch of the Corporate Banking Department of Banque des Mascareignes
    • Joined Standard Bank Mauritius Ltd in 2009 as Business Development Manager for the MNCs and large African groups operating within the overall Standard Bank Group. Conducted several roadshows across South Africa with other professionals from the Mauritian Global Business industry to promote the jurisdiction’s attractiveness for hosting tax-efficient financing structures

    Skills & Experience:

    • Strong experience in corporate and investment banking, financial analysis and risk management across a wide spectrum of business activities
    • Leadership and team management skills

Executive Director - Appointed in: May 2024 – up for re-election at the next Shareholders’ Meeting
Drishti HURRYBUNGS (Born in 1992)
  • Qualifications

    Fellow member of the Association of Chartered Certified Accountants, BA (Hons.) in Applied Accounting from Anglia Ruskin University

  • Professional Journey

    • Started her career at Ernst & Young in the Audit Department where she was involved in the audit of several listed companies in Mauritius
    • Worked in the Property cluster of Medine Ltd
    • Currently the Finance Manager at New Mauritius Hotels Limited working in the Hospitality and Property Cluster of the Company and Semaris Group


    Skills and experience:

    • Extensive knowledge in financial reporting and preparation of consolidated financial statements
    • Proficient in conducting feasibility studies
    • Strong background in auditing

Annual Report

Investors Corner

Financial Information