Manufactured Capital

Value Creation

Place making

At Ascencia, we recognise that the success of our malls extends well beyond the traditional bricks and mortar: it is about place making.

REFLECTING ON 2021

Reinforcing Bagatelle as the premier Mall in Mauritius

This is why we decided to proceed with a Rs 0.87 Billion investment in the Bagatelle Mall notwithstanding the uncertainty brought about by the pandemic.

Our key milestone projects for 2021 are:

The opening of Decathlon in May 21, the world leader in affordable sportswear. The shop occupies an area of 3,055 m² with its dedicated entrance and parking. The performance of the shop, since opening, has been exceptional

Simultaneously, we have completed the extension of the Bagatelle Mall by adding 2,350 m², a new entrance and additional parking. This new node is now home to

42 Market Street: a new street food artifact destination with some 30 operators
Live Well, a para pharmacy and medical centre
International brands such as GAP, Ralph Lauren, Gant, Fila, Lui Jo, Next and Burger King

NAVIGATING THE CHALLENGES OF THE PANDEMIC.”

Outlook

Growth initiative

Our asset accretive strategy continues.

The agreement with Metro Express will mark a new beginning for the Phoenix Mall. A new metro station will be buillt and the existing GIFI box repurposed. . Moreover, our anchor will rebrand to Carrefour, one of the leading supermarket brands in the world, and our food court will be renovated to improve shopper experience.

We will also complete the extension of Bagatelle Mall with the extension of Intermart to hypermarket status and the repurposing of the Food Lovers Box. Intermart will now operate on a total surface area of more than 6,700 m2. As for the ex FLM box, it will be home to new affordable fashion brands and a Home Products sub anchor.

Last but not least, Ascencia will acquire 100% of the shares in Bo’Valon Mall from its sister company Enatt.

Acquisition of
100% in
Bo’Valon Mall

Indicative Investment

Rs 295 m

Metro Project and repurposing of
GIFI Box

Indicative Investment

Rs 315 m

Intermart Extension and repurposing of Food Lovers Box

Indicative Investment

Rs 265 m

METRO STATION AT PHOENIX MALL, A GAME CHANGER."

Portfolio of Investment Properties

BAGATELLE MALL

GLA (sqm)	55,968
NOI (Rs m)	499
IP Value (Rs bn)	8.07
Yield (%)	7.0
Vacancy (%)	4.0
Average Monthly Footfall (#)	508,449
WALE (yrs)	2.4

PHOENIX MALL

GLA (sqm)	27,548
NOI (Rs m)	209
IP Value (Rs bn)	2.58
Yield (%)	8.2
Vacancy (%)	1.5
Average Monthly Footfall (#)	315,680
WALE (yrs)	5.0

RICHE TERRE MALL

GLA (sqm)	21,433
NOI (Rs m)	129
IP Value (Rs bn)	1.52
Yield (%)	8.9
Vacancy (%)	0.0
Average Monthly Footfall (#)	278,318
WALE (yrs)	5.5

BO' VALON MALL

GLA (sqm)	10,568
NOI (Rs m)	72
IP Value (Rs m)	845
Yield (%)	8.4
Vacancy (%)	1.6
Average Monthly Footfall (#)	139,492
WALE (yrs)	5.5

SO' FLO

GLA (sqm)	7,546
NOI (Rs m)	48
IP Value (Rs m)	590
Yield (%)	8.1
Vacancy (%)	5.4
Average Monthly Footfall (#)	165,955
WALE (yrs)	3.4

KENDRA

GLA (sqm)	5,284
NOI (Rs m)	44
IP Value (Rs m)	535
Yield (%)	8.7
Vacancy (%)	1.6
Average Monthly Footfall (#)	178,528
WALE (yrs)	2.2

LES ALLÉES

GLA (sqm)	2,655
NOI (Rs m)	13
IP Value (Rs m)	177
Yield (%)	7.3
Vacancy (%)	8.3
Average Monthly Footfall (#)	-
WALE (yrs)	1.3

DECATHLON

GLA (sqm)	3,055
NOI (Rs m)	-
IP Value (Rs m)	240
Yield (%)	-
Vacancy (%)	-
Average Monthly Footfall (#)	-
WALE (yrs)	9.8