Ascencia, a leading developer of commercial centers in Mauritius, has announced plans to invest Rs 3.6 billion in two new malls in the eastern region of the island. The malls, located in Flacq and Bel-Air, are part of the company's strategic plan CAP29, which aims to expand its presence in the local market. The projects are being developed in partnership with Alteo Group.
The Flacq mall, which represents an investment of Rs 2.6 billion, will have a gross leasable area of 25,000 square meters and is expected to create over 1,000 jobs. The mall is scheduled to open in July 2027. In addition to the mall, a medical center with a floor area of 3,300 square meters will be developed, which will be operated by C-Care. The medical center is valued at Rs 258 million and is expected to open in June 2028.
The second project, Bel-Air by Ascencia, is valued at Rs 976 million and will offer 8,500 square meters of leasable space. The project is expected to be completed during the 2028 financial year. Ascencia is also upgrading its existing Bagatelle Mall, where a new entertainment and dining hub is being developed on a 6,000 square meter site. The project, valued at Rs 472 million, will feature a Flip Out leisure park and a Krispy Kreme store, among others.
Ascencia's existing commercial centers have a high occupancy rate of 99% and attract an average of 2.15 million visitors per month. The company's customer satisfaction index stands at 80%, with security and comfort scoring 85% and 84%, respectively. Ascencia is committed to eco-responsibility and has implemented various initiatives to reduce its environmental impact.
Ascencia has made significant progress in reducing its environmental footprint. The company's solar installations, with a total capacity of 6 MW, have generated 4.5 million kWh of electricity. Over 6.5 MW of renewable energy projects are currently under development. The company has also implemented a waste management program, which includes recycling and diverting waste from landfills.
Ascencia aims to achieve 65% of sorted waste by 2030 and integrate circular economy principles into its operations. The company has launched an interactive microsite, A Vision in Motion, to raise awareness among its stakeholders about its environmental practices. The microsite provides information on Ascencia's environmental performance and initiatives to reduce its impact.
Ascencia's commitment to sustainability and eco-friendliness is reflected in its operations and development plans. The company's focus on environmental responsibility, customer satisfaction, and employee engagement has contributed to its success in the Mauritian market. With its new projects, Ascencia is poised to further expand its presence and reinforce its position as a leading developer of commercial centers in Mauritius.
Key points
- Ascencia plans to invest Rs 3.6 billion in two new malls in Flacq and Bel-Air, Mauritius.
- The company's existing commercial centers have a high occupancy rate of 99% and attract an average of 2.15 million visitors per month.
- Ascencia aims to achieve 65% of sorted waste by 2030 and integrate circular economy principles into its operations.
