AIR Nests

At a glance

The project on one page

Rs 2.7 MThe Nest delivered and installed turnkey

53.3 m²Including a 28.4 m² covered veranda

12Nests in total on the site, no more

14 to 15%Net yield at 30% occupancy

≈ 7 yearsTo recover the investment, base scenario

Three reasons to believe

A venue already open: AIR’s gallery and garden welcome the public every day: the Nests rest on an ecosystem that already exists, not on a promise.
Full management: AIR markets, hosts and maintains; the owner receives 70% of rental revenue without having to handle it.
An asset of your own: Movable property, fully owned, resaleable, relocatable, covered by the manufacturer’s ten-year guarantee.

The assumptions are cautious: 30% occupancy, against 54% in the Flacq district. Even at 60 nights a year, the Nest produces net income.

The site stands on land owned by Alteo, a Mauritian group listed on the Stock Exchange of Mauritius, which leases it under a ten-year renewable lease.

The place

An art venue inland

Deep River is a valley shaped by water, away from the coast: riverbanks, a former orchard of century-old mango trees, former farm tracks. AIR, Artistic Immersive Retreat, has opened a gallery and garden there; the Nests are the next step, light dwellings in which to stay, work and linger.

The Nests extend Artistic Immersive Retreat, where art, nature and mobility meet; their light architecture takes its meaning from the site itself: the river, the great trees, the slope.

Here, the value of a stay lies in what people do, residencies, exhibitions, workshops, slow hospitality, as much as in the setting.

Filtered light through the trees at Deep River — Deep River, light through the canopy.

Vision

Why Deep River, why now

Mauritius now wants tourism that no longer stops at the beach. Deep River, its orchard and its art venue answer that ambition.

The island welcomed 1,436,250 tourists in 2025, up 3.9%¹. The Minister of Tourism, Richard Duval, wants to move beyond the beach model toward heritage, nature, ecotourism and the island’s interior; he means to judge growth by its quality rather than by arrival numbers².

AIR answers it with a hybrid investment, between cultural hospitality and modular real estate, guided by four principles. Mobility: an asset that can evolve, relocate, expand or be upgraded. Culture: every Nest is tied to the residencies and the gallery. Ecology: passive cooling, rainwater, a reduced footprint. Value: rental income backed by an ecosystem rather than a location.

What we want people to live there

MorningThe river before anyone else.

StudioThe veranda open to the mango trees, a canvas in progress.

EncounterAn artist in residence who opens the door in the afternoon.

TableA shared dinner under the century-old tamarind.

CraftAn artisan showing their trade, once a month.

NightA cello on a full-moon evening.

SeasonThe solstice, celebrated in several traditions.

NothingReading, drawing, keeping quiet.

AIR’s visual world sets the tone.

The Nestwork

Linking the Nests without turning the orchard into a road network

Divyaa Hauzaree approached the site the way one composes a canvas: solids and voids, crossing lines, zones of silence. One question guides the drawing: how can individual residences be connected through a shared landscape while each keeps its autonomy?

The Nestwork balances connection and solitude, movement and pause, individual practice and collective life. It starts from the existing trees, paths, topography and the relationships between the Nests. The plan below covers the first phase: the show Nest and five others. Six more Nests will then complete the site.

Location plan: the AIR Nests site between Deep River and Olivia — Location plan. The site, circled in red, between the river and the village of Olivia.

Hand-annotated site analysis: access, gallery, restaurant, first Nest, river view — Site analysis. From the access road and gallery, the public side, toward the orchard, the private side; a 16 to 20 m setback from the river; existing trees preserved; 10 m grid.

From loop to landscape

Three diagrams: the loop, the network, the spatial experiences

The loop. A continuous route connects the Nests.
The network. The loop adapts to the existing trees, residences and site conditions.
The spatial experiences. Variations, connections and moments of retreat, observation and encounter.

Annotated plan: the artistic loop, path hierarchy, private access and technical room — The artistic loop provides continuity and discovery; the path hierarchy organises movement and proximity; each Nest keeps its solitude.

Paths as degrees of intimacy

The network varies in character and in how close it brings people to one another, from shared movement to solitude. Each practice finds its own way into the orchard: the writer seeks silence, the painter light, the sculptor material, the musician acoustics, the photographer framing, the performer movement.

Volcanic stone walkway lined with planting

referenceMood images chosen by the architect for each type of path.

Colour-coded path hierarchy plan — Path hierarchy. Maroon: main axis; orange: private technical path; blue: compacted earth; yellow: landscaped path; pink: stepping stones; green: planting.

Nestwork masterplan at 1:400 with six Nests — First-phase masterplan, scale 1:400. Contours from 84 to 94 m; gallery and restaurant on the left, river on the right.

The Nest

53.3 m² between the bedroom and the canopy

A Nest is first of all a refuge: a place of one’s own, a bedroom that can become a studio, a bathroom, a kitchenette and a large covered veranda open to the orchard. One works there in peace and meets others only when one wishes. Its plans are final: what is shown here is exactly what will be delivered.

A Nest under the mango trees: the glazed bedroom on the left, the veranda set up as a studio on the right — illustrationThe bedroom on one side, the veranda turned studio on the other, under the orchard’s mango trees.

24.9 m²Net interior

28.4 m²Covered veranda

2.90 mMaximum ceiling height

Three modules fit together: the Nest, the veranda and the stairs. Together they offer the floor area of a premium hotel suite, with more privacy and a direct relationship with the trees.

Spaces
Room	Area	Description
Bedroom or studio	12.06 m²	Raised ceiling, orchard view
Bathroom	4.58 m²	Full-height tiling, walk-in shower, ventilation
Kitchenette	4.48 m²	Compact kitchen, integrated storage
Veranda	28.4 m²	Sheltered studio, dining or work space

Diagram of the three modules: Nest, veranda, stairs — The Nest, the veranda and the stairs: three connected modules.

Equipped kitchenette — architect’s viewKitchenette

Bathroom with walk-in shower — architect’s viewBathroom

Covered veranda — architect’s viewVeranda

Nest seen from the front — architect’s viewFront

Nest seen from behind — architect’s viewRear

Inside a Nest: a sleeper, a painter at work on the veranda — architect’s viewThe bedroom opening onto the veranda, used as a studio.

A Nest shaped to a practice

Beyond the standard configuration, optional fit-outs turn the Nest into a working space. Each is designed with Divyaa Hauzaree to preserve the Nest’s architectural integrity.

Painter’s studio: Easels, material storage, wash station, enhanced daylight
Writer’s retreat: Desk facing the trees, built-in shelving, acoustic treatment, ergonomic seating
Ceramicist’s workshop: Reinforced floor, dedicated water and power supply, storage, work surfaces
Photographer’s gallery: Hanging systems, lighting rails, portfolio display, equipment storage
Bespoke: A solution developed with the architect and the AIR team

Optional fit-outs, priced according to scope and subject to architectural approval.

Construction

Designed for the tropics, built to last

Every element is chosen to withstand cyclones, protect comfort and keep maintenance low; the structure is also covered by the manufacturer’s ten-year guarantee.

Frame: 3 mm galvanised steel, rated for cyclonic winds up to 250 km/h; reinforced anchoring
Walls: 15 cm MGO insulated panels: fire-resistant, rot-proof, termite-proof and humidity-resistant
Roof: Insulated mono-pitch at 8°, integrated gutters and rain chains
Foundations: Raised reinforced-concrete pads, minimal ground contact, good airflow
Openings: Double-glazed aluminium, mosquito screens on every opening

Galvanised steel structure — Galvanised steel frame

Material palette: steel, wood, glass, corten — Palette: steel, wood, glass, corten

Climate as an ally

Indoor comfort comes with very little energy: MGO panel insulation, the veranda as a thermal buffer, cross-ventilation through aligned openings. Warm air escapes beneath the mono-pitch roof; cool air enters through the lower openings. The roof is reserved for future solar panels.

Touching the ground at a few points

Each Nest rests on small reinforced-concrete pads rather than a slab. The system preserves the topography, avoids heavy earthworks and keeps the ground permeable. The foundations are reversible: a Nest can be moved without leaving a scar.

Pad foundations — Low-impact pad foundations.

Autonomous systems

Rainwater: Roof, gutter, chains, then a 1,200-litre tank: five to seven days of autonomy for two guests
Electricity: Grid-connected, pre-wired for solar
Greywater: A treatment unit for each Nest
Sanitation: Individual septic system

Rainwater collection system — Rainwater collection.

Price and market

A price set on execution plans

Rs 2,700,000

Standard Nest, delivered and installed turnkey.

What the price includes

Full galvanised steel frame; 15 cm MGO composite walls and insulation; double-glazed aluminium openings; interior finishes (floors, paint, fixtures); installed kitchenette; complete bathroom; veranda and stairs; electrical and plumbing networks; air-conditioning pre-installation; individual septic system; transport, crane assembly, foundation pads and commissioning.

That is about Rs 50,700 per square metre, veranda included, for a dwelling delivered ready to host guests, whereas transport, foundations, sanitation and commissioning usually come on top of a construction price.

The market

Benchmark	Occupancy	Average nightly rate	Source
Short-term rentals, Mauritius (median, 5,198 listings)	63%	Rs 4,682	Airbtics, Sep 2025 – Aug 2026³
Short-term rentals, Flacq district (243 listings)	54%	US$206	AirDNA, 12 months to Oct 2026⁴
AIR Nest, base assumption	30%	Rs 7,000	This document

These assumptions are deliberately cautious: they serve to validate the model. The occupancy assumed is barely more than half that of the Flacq district; the rate, below that district’s average, is meant to rise with the venue’s reputation. It is per night and per Nest, not per person. Artist residencies, funded by third parties, are charged the same rate: they do not dilute income.

A Nest’s value lies neither in its floor area nor in luxury amenities: it lies in access to a living art venue, which drives word of mouth and loyalty beyond platform algorithms.

Nest+: two articulated Nests

The standard Nest is designed with an offset on the kitchen side that lets it connect to a second module, the equivalent of a Nest, built to fit against it. Together they host four to six people, families or longer residencies; the pair stays within each pitch’s allocated envelope, typically 250 to 400 m²; it is approved by AIR and the architect.

Configuration	Investment	Nightly rate
Standard Nest	Rs 2,700,000	Rs 7,000 – 10,000
Nest+	from Rs 5,000,000	Rs 12,000 – 16,000

The second module is designed around its use: bedroom, studio, workspace. It shares the kitchen and wastewater system of the first; each keeps its own bathroom. The price shown is a starting point: the final quote follows the chosen layout. Returns follow the same logic as the standard Nest.

Nest+: a Nest and its connected second module — architect’s viewNest+: the second module connected to the Nest, concept view.

Operations

Full management, clear fees

The owner owns the Nest; AIR maintains the site and, if the owner wishes, manages the stays. Two separate items, known in advance.

What the owner pays

Site fee Rs 3,750 a month: Payable by every owner: maintenance of access and shared areas, site security, waste management, water and electricity networks. Rs 45,000 a year.
Rental formula Rs 5,830 a month: For Nests entrusted to AIR: the site fee plus landscape care of the pitch and priority response, so that every stay finds the Nest and its surroundings impeccable. Rs 70,000 a year.

Water and electricity consumption, read from individual meters, is paid by the owner: about Rs 2,500 a month, Rs 2,000 for electricity and Rs 500 for water. On top of this come Rs 40,000 to 60,000 of annual costs specific to the Nest: structural maintenance (15,000 to 20,000), cyclone and liability insurance (10,000 to 15,000), technical equipment: filters, pump, septic tank (5,000 to 10,000), contingency reserve (10,000 to 15,000).

Aerial view of the site: paths, landscaping, lighting — Aerial view: paths, planting, lighting.

Rental management: 70% to the owner, 30% to AIR

Owners who entrust their Nest to AIR keep 70% of rental revenue. AIR’s 30% covers full management and what no manager can offer: access to the gallery, the residencies and the programme, which supports the rate and drives occupancy.

Guest handling: Check-in and check-out, communication, issue resolution, concierge
Programme: Events, meetings with residents, experiences on site
Revenue: Pricing, market monitoring, seasonal strategy
Distribution: Photography, copywriting, listings, social media, partner platforms
Overheads: Staff, coordination, systems, internet

No guest-handling fee is charged on top. Cleaning and linen are paid by the guest, with the booking.

Projections

A cautious scenario, then what can exceed it

The base scenario assumes 110 nights a year (30% occupancy) at Rs 7,000 a night, with no rate increase and no capital gain on resale.

Owner’s annual income, base scenario
Rental revenue (110 nights × Rs 7,000)	Rs 770,000
Owner’s share (70%)	Rs 539,000
Rental formula	– Rs 70,000
Water and electricity consumption	– Rs 30,000
Nest-specific costs	– Rs 40,000 to 60,000
Owner’s net income	Rs 379,000 – 399,000
Cash-on-cash return (Rs 2.7 M)	14.0 – 14.8%

At constant income, the outlay is recovered in about seven years.

Sensitivity to occupancy

Nights a year, at Rs 7,000	Revenue	Owner’s share	Owner net
80 (22%)	560,000	392,000	232,000 – 252,000
110 (30%), base	770,000	539,000	379,000 – 399,000
160 (44%)	1,120,000	784,000	624,000 – 644,000
180 (49%)	1,260,000	882,000	722,000 – 742,000
200 (55%)	1,400,000	980,000	820,000 – 840,000

Even at 200 nights, occupancy stays at the Flacq district level. A rate increase, toward Rs 8,500 to 10,000, is built in nowhere; it would be additional upside.

Over ten years, the internal rate of return is 14 to 15% in the base scenario, with the Nest resold at its purchase price. During ramp-up it reaches about 16% even if the Nest is never resold. Detailed scenarios and stress tests are in the investor file.

No capital gain is assumed. Projections rest on assumptions and do not guarantee future results.

Ownership

An asset of your own, on a site cared for

Each Nest is movable property, fully owned by its owner. It stands on a pitch at the Deep River site, which AIR operates.

The land belongs to Alteo, a Mauritian group listed on the Stock Exchange of Mauritius, which leases it under a ten-year renewable lease. AIR operates the site; it signs with each owner a pitch agreement matching the lease term, together with an optional rental management mandate. The full contractual chain is set out in the investor file.

Movable-property status may allow accelerated depreciation and avoids the constraints of permanent real estate. The exact tax treatment should be confirmed with each investor’s adviser.

If the lease were not renewed

AIR intends to open other sites; at expiry, it would offer a new pitch in its network. Owners may also choose to take back their Nest: the pad foundations allow it to be dismantled and reinstalled elsewhere. Transfer conditions and transport costs are set out in the pitch agreement.

Staying in your own Nest

Each owner may use their Nest in any season, through AIR’s internal calendar, with 60 to 90 days' notice recommended. Owners get priority on shoulder-season dates (April and May, September and October). The projections in this brochure assume four to six weeks of personal use a year; owners may stay longer, each personal night being a night taken out of the rental calendar. A personal stay incurs no guest-handling fee; the rental formula still applies. Exclusive personal use, outside the rental programme, remains a privilege: it is limited to two Nests out of twelve, subject to AIR’s approval and to a specific annual fee.

Resell, relocate, extend

Resale: At any time, to a private buyer or an investor; the buyer takes over the pitch and its agreement; AIR approves the buyer and holds no right of first refusal.
Relocation: To another AIR-approved site, in Mauritius or elsewhere, after a minimum anchoring period on site, counted from commissioning and set in the pitch agreement
Extension: Adding the Nest+ second module
Full exit: Transfer by movable-property bill of sale, with no land registry formalities; typically 30 to 60 days

AIR connects sellers with verified buyers and provides the rental history to support pricing.

Permits

In Mauritius, accommodation let to travellers must hold a certificate issued by the Tourism Authority, the Tourist Accommodation Certificate⁵. AIR handles this for each Nest, as it does all the site’s permits.

Before committing, every investor should carry out their own financial and legal analysis with advisers familiar with Mauritian law. Estimated returns are not a guarantee.

AIR today

A venue already alive, a team in place

The gallery and garden, officially inaugurated on 31 October 2026, welcome the public every day; exhibitions change roughly every three months.

Next will come workshops led by invited artists and artisans, a restaurant at the heart of the site, an art café in Flic-en-Flac and exhibitions shared with the Centre d’Art de la Pointe Tamarin. The show Nest, ready to be built, will be installed in early 2027.

The founders

Erwin Angeline, known as AirWind

Art direction

Mauritian visual artist active on the national and regional scenes, founder of Airwind Arts, a collective producing exhibitions, performances and artistic activations. He has curated group shows, workshops and multidisciplinary installations.

At AIR he leads the curatorial line, the residencies, the programme and the aesthetic identity of the Nests.

Nicolas Boussaroque

Strategy, development and operations

More than twenty years leading multidisciplinary projects across art, technology, hospitality and sustainability; proven practice in business modelling, operational design and partnerships; close knowledge of Mauritius.

At AIR he drives strategy, development, partnerships and site operations.

What AIR already builds on

Airwind Arts: The collective led by Erwin produces exhibitions, performances and events across Mauritius. It gives AIR a network of artists and continuous programming capacity.
AIR Hospitality, Aanari, Flic-en-Flac: A first hospitality experience under the AIR banner, in a seaside hotel: artistic experiences offered to guests of Aanari Hotel & Spa. Watch the video
The architects: Divyaa Hauzaree (DEA) designed the Nests and the site plan; Harikesh Sunkur, an architect, advises AIR on permits.
The manufacturer: Housinnovation, a modular construction specialist, builds the Nests.

Montage of AIR's cultural activities — Activities of AIR and Airwind Arts.

Invest

Becoming a founding owner

Timeline

31 October 2026	Official inauguration of AIR at Deep River
Early 2027	Installation of the show Nest
2027	Five Nests open to order, installed in succession
2028	Six more Nests, twelve in total on the site

From order to installation, allow about three months:

Customisation, one to two weeks: materials, adaptations to use.
Final plans with the architect, one to two weeks: validation and siting.
Manufacture, four to five weeks.
Site preparation, two to three weeks in parallel: pads, utilities, septic, greywater.
Delivery and installation, five to seven days.
Commissioning, one to two weeks.

Founding owners' benefits

Founding owners are the buyers of the five first-phase Nests, open to order in 2027.

Choice of pitch: River-facing or garden-facing, before the general offering
Price lock: Rs 2.7 M fixed for founding owners; an increase to Rs 2.9 M or more expected for the next phase
Rental formula discount: 15% for life, saving Rs 10,500 a year
Visits: Site visits from today; inspection of the show Nest once installed

Next steps

Visit. The gallery, the garden, the pitches.
Analysis. The investor file, on request: financial model, scenarios, risks and legal documentation.
Reservation. Rs 300,000, whatever the model: the pitch is chosen and the price is locked. Refund conditions are set out in the reservation agreement.
Staged payments. The rest of the price is called as the work progresses, up to handover.

Payment schedule, standard Nest
Stage	Share	Amount
Reservation	flat	Rs 300,000
Start of manufacture	40%	Rs 1,080,000
Delivery on site	40%	Rs 1,080,000
Handover	balance	Rs 240,000
Total		Rs 2,700,000

Investment: Rs 2,700,000 for a standard Nest, from Rs 5,000,000 for a Nest+. First phase: five Nests open to order, around the show Nest.

Beyond Deep River

In time, AIR envisages a network of places sharing the same identity. These sites are under study.

Beau Rivage: At the estuary where the Grande Rivière Sud-Est meets the ocean
Riche Fond: Inland: two vast pools on the river, one of them a natural swimming pool; a former mill
La Gaité: Countryside, agricultural arts programme

Map of Mauritius with sites under consideration — Sites under consideration, indicative.

Write to AIR

nicolas@artistic-immersive-retreat.com

artistic-immersive-retreat.com

Visit

AIR, Artistic Immersive Retreat
Deep River, Flacq, Mauritius
Gallery and garden open every day

Sources

ATTA, citing the Mauritius Ministry of Tourism, 2025 tourist arrivals, January 2026. atta.travel
TIME Africa, interview with Richard Duval, Minister of Tourism, July 2026. africa.time.com
Airbtics, Airbnb revenue in Mauritius, September 2025 to August 2026. airbtics.com
AirDNA, short-term rental data for the Flacq district, updated 20 October 2026. airdna.co
Westimmo, tourism licences in Mauritius, September 2026. real-estate-mauritius.mu

Questions

The questions we are asked

Am I buying the land?: No. You buy the Nest, movable property that you fully own; it stands on a pitch AIR rents to you, on Alteo land held under a ten-year renewable lease.
What if the lease is not renewed?: AIR offers you a pitch on another site in its network; you may also take back your Nest, which its pad foundations allow to be dismantled. The terms are set out in the pitch agreement.
Who pays for repairs after a cyclone?: The structure is covered by the manufacturer’s ten-year guarantee. Each owner also takes out cyclone and liability insurance, included in the annual costs.
Can I resell quickly?: Yes, at any time, by movable-property bill of sale, typically within 30 to 60 days. AIR connects sellers and buyers and approves whoever takes over the pitch.
Who sets the nightly rate?: AIR, as part of rental management. The model assumes Rs 7,000 a night, a deliberately cautious rate.
Do artist residencies reduce my income?: No. They are funded by third parties and charged the same rate as a stay.
Can I stay in my Nest?: Yes, in any season and with no guest-handling fee. The projections shown here assume four to six weeks a year; longer use remains possible, at the cost of the nights taken out of the rental calendar.
Do I have to rent out my Nest?: Exclusive personal use is possible for two Nests out of twelve at most, with AIR’s approval and against a specific fee.