Ascencia, one of the greatest property investment societies listed in the Mauritius Stock Exchange

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The Ascencia Company, one of the most important property investment funds listed in the Mauritius Stock Exchange, realized for its shareholders, an investment return of 15, 9 % for its first operation year, i.e. 7, 6 % in the form of dividends. As for Ascencia’s profits, it went up to Rs 161 million for the financial year 2008/2009.


Ascencia owes its excellent performance to its diverse real-estate portfolio, made of commercial, industrial and office spaces and to a diligent management. Furthermore, the company politic is to induce a minimum of 75% of its generated profit as dividends. If at first Rogers possessed all the company’s shares through its branch Foresite Property holding Ltd. Ascencia, since its entry in the Development and Enterprise Market in December 2008, open its share ownership to institutional investors such as the MCB Equity Fund, the Mauritius Union Insurance, the Port-Louis Fund, the Casinos of Mauritius Pension Fund and individuals. Actually, Ascencia counts around 111 shareholders and, like all the companies listed in the stock exchange, it rigorously follows the transparency and good governance rules.

«We want to open our market to new shareholders and, why not, enter the Joint-ventures’ with Mauritian or foreign partners in order to seize new opportunities.’ Points out Mr Damien Mamet, general director of the Cim Property Fund Management which manages the Ascencia fund. “The local property market remains particularly dynamic and the worldwide economic crisis has a minimal impact on our activity…”

An opinion shared by M. Sanjiv Mihdidin, General Director of Foresite Property, Rogers’s real-estate branch, which manages the different Ascencia’s buildings. He states that those additional capitals will allow them to expand their real-estate portfolio and to optimize the results. Ascencia’s indicators are very positive and shall attract investors. The buildings’ occupation rate reaches 95% while the property’s values hold by the company reaches Rs1,4 billion according to the last financial statement. Among those, the shopping centers of Riche-Terre and Phoenix, the Harbour Front, the Spar supermarkets’ premises, the Les Cascades’s buildings offices and Manhattan in Port-Louis, buildings in the Riche-Terre industrial zone. Those assets values’ increase reached 6% in one year during the 2008/2009 financial exercise.

Also, the portfolio’s value should increase considerably next year with the renovation works of some of the buildings. So much factors which render Ascencia’s actions highly actractive.